The confirmation follows press speculation that the mutual insurer was considering a takeover
The LV= board has confirmed it is considering the sale of its life and pensions businesses as it considers “a wide range of strategic options” after the sale of its general insurance business to Allianz.
Responding to press speculation, LV= said in a statement: “LV=’s Board is fully committed to maximising long term value for its members and is therefore assessing a wide range of strategic options following the disposal of the general insurance business to ensure that the remaining business continues to be operated in the best interests of all its members. Some but not all of these options may involve a transaction with a third party.
“No conclusions have yet been reached as to the most appropriate option to pursue and there can be no certainty that this review will result in any transaction being agreed or with whom.”