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AGM 2015

The LV= AGM is being held at 3.00pm on 21 May 2015 at The Sandbanks Hotel, Poole, Dorset, BH13 7PS

The AGM

If you're a member of LV=, we’ll write to you with details of the AGM in April 2015. If you haven’t heard from us by the end of April or you have any questions about the AGM call us on 0800 202 8102 between 8.30am and 6.30pm Monday to Friday.

You can also email us with an AGM query AGM@lv.com.

How to vote

If you're entitled to vote you can do this in one of three ways:

  1. Go to www.lv.com/myvote and cast your votes online. You'll need to type in your two-part voting code which is in your AGM letter.
  2. Fill in the proxy form in your AGM pack and send it back to us.
  3. Come along to the AGM on Thursday 21 May 2015.
The Board and audience at the LV= 2014 AGM held at the Royal Bath Hotel in Bournemouth

Important notes

  1. To attend and vote at the AGM you must be 18 or older. You must also have held an LV= product which qualifies for membership for at least 12 continuous months, as at the date of the AGM on 21 May 2015.
  2. A member entitled to attend and vote at the AGM may appoint any person as a proxy to act on his or her behalf at the meeting, and may instruct the proxy how to vote.
  3. If you would like to attend the AGM, please bring your invitation letter to the meeting, along with another form of identification.

This year's seven Resolutions in full

The AGM on 21 May 2015 will be held to consider the following resolutions:

  1. To receive the report and accounts for the year ending 31 December 2014. You can view the report online at LV.com/annual-report. If you prefer you can request a copy by emailing us at secretariat@lv.com, writing to LV=, County Gates, Bournemouth, Dorset, BH1 2NF or by phoning 0800 202 8102. Copies will also be available at our AGM.
  2. To re-appoint Mark Austen as director. Mark was re-appointed to the board as a director (and chairman) at the AGM in 2014. See Note 1.
  3. To re-appoint Caroline Burton as a director. Caroline was appointed to the board as a non-executive director at the AGM in 2012. See Note 2.
  4. To re-appoint John O'Roarke as a director. John was appointed to the board as an executive director at the AGM in 2012. See Note 2.
  5. To approve the 2014 Directors' Remuneration Report (excluding the Director’s Remuneration Policy) for the financial year ended 31 December 2014. See Note 3.
  6. To approve the Directors’ Remuneration Policy as set out in the full 2014 Annual Report and Accounts. The policy is intended to apply for three years with effect from 1 January 2015. See Note 4.
  7. To re-appoint PricewaterhouseCoopers LLP as the Society's auditor until the end of the next AGM.
Note 1
LV=’s chairman volunteers himself for re-election every year.
Note 2
Under our Rules, directors must resign and offer themselves for re-election every three years.
Note 3
Members are asked to approve resolution 5 by way of an advisory vote. This is not a legal requirement or in our Rules, but your board believes it is best practice to allow members to express a view.
Note 4
As a change for this year’s AGM, members are asked to approve resolution 6 by way of a binding vote. At our 2014 AGM it was stated that the Society would move to a binding vote for the directors’ remuneration policy in 2017, thereby achieving full compliance with the regulations for listed companies. However, in light of subsequent changes to the remuneration policy, it has been decided to voluntarily adopt a binding vote as of 2015. A full copy of the Directors’ Remuneration Policy can be found online at LV.com/annual-report.

To attend and vote at the AGM you must be 18 or over. You must also have held an LV= product which qualifies for membership for at least a year, as at the date of the AGM. A member entitled to attend and vote at the AGM may appoint any person as a proxy to act on his or her behalf at the meeting, and may instruct the proxy how to vote.

Please bring your voting form to the meeting, together with another form of identification

Attending the AGM

If you are a member and would like to attend the meeting, please bring your invitation letter with another form of identification.

  1. Where: Peninsula Suite, The Sandbanks Hotel, Poole, Dorset, BH13 7PS
  2. When: Thursday 21 May 2015
  3. Time: 3:00pm

Frequently asked questions (FAQs)

What's a Friendly Society?
Friendly Societies are mutual organisations that were set up to help and encourage underprivileged people to improve their financial well-being.
What's a mutual?
Unlike public companies which are owned by external shareholders, mutual societies are 100% owned by their members. Any profits we make are either reinvested into the business for the future, or if the board decide, distributed to some or all of the members.
How does someone become a member of LV=?
Having a certain product with LV= automatically makes you a member. General Insurance products, like car and home insurance, which are provided by subsidiaries of LV=, don't qualify for membership, so someone who only has one of these types of policies is a customer of LV=, rather than a member.
So if I'm a member, what does that mean?
You are entitled to have a say in in the way your business is run, by voting at our Annual General Meeting (AGM).
You're entitled to member discounts on some of our general insurance products, like car and home insurance.
You can use the Member Care Line for help and advice.
You could apply to the Member Support Fund for a grant if you are in financial hardship.
You can nominate a good cause to receive £10,000 through the Member Community Fund.
What's an Annual General Meeting (AGM)?
It's a yearly event that allows our members to give an opinion on the way we are run and is normally abbreviated to AGM. AGM's are usually held by official bodies, clubs and financial institutions, not only as a legal requirement, but because it's written into their constitution or is the right thing to do.
Why do you have an AGM?
By law we need to hold an annual meeting for our members. The meeting deals with matters such as the approval of the previous year's financial statements, the election of board directors and the auditor. It's also an opportunity for the board to tell members about the way the business is run, and for members to ask the board questions.
What's a proxy?
A proxy is someone you can nominate to vote for you. Your proxy could be the chairman of the meeting, or someone else. As a member, you can ask a proxy to vote in a particular way, or let them vote as they see fit. The proxy votes will be used if the chairman calls for a poll.
What's a poll?
A poll is a vote that is conducted using voting forms. These will include poll cards handed out to attendees at the meeting and the proxy forms received by post.
Why would a poll be called?
If the show of hands at the meeting differs from the result of the proxy votes, the chairman will call for a poll to ensure the majority vote is carried.
I haven't been a member for 12 months yet, can I still come along to the meeting?
Yes, you can watch the proceedings, you just can't cast a vote. If you have any questions which we haven't answered, please call us on 0800 202 8102 .

Making a difference for a good cause

We'd like to raise £25,000 through our members' proxy votes for a charity that's close to their hearts. Rather than picking a charity to benefit from a donation we're asking our members to choose one.

The amount we raise for the nominated charity depends on how many votes we receive:

  1. Up to 50,000 votes received = £15,000
  2. Between 50,001 and 100,000 votes = £20,000
  3. Over 100,000 votes = £25,000

Guide to picking a charity and terms and conditions

Picking a charity when you vote in the AGM

The charity you nominate should be one:

  1. close to your heart
  2. that you think is deserving that will put the money to good use
  3. which is doing good work in the UK
  4. is consistent with the traditions and values of LV=
  5. is not politically controversial.
  1. If you cast your vote, either by postal or online proxy, in the LV= 2015 AGM you’ll automatically be able to nominate a charity to benefit from a donation which reflects the number of proxy votes received.
  2. The charity must be registered in the UK and therefore have a UK charity registration number (this can normally be found on their website and their documents but we can find this for you).
  3. You can only make one nomination.
  4. The amount of the donation depends on the number of proxy votes we receive by the deadline of 3.00pm on Tuesday 19 May 2015. Up to 50,000 proxy votes received = £15,000 Between 50,001 and 100,000 proxy votes = £20,000 Over 100,000 proxy votes = £25,000 Voting online will count double towards the target votes.
  5. To be considered, nominations must be made at the same time as registering a proxy vote. All proxy votes and nominations must be received by 19 May 2015. One proxy vote, where a charity has been nominated, will be randomly selected by the member relations team at LV= by 30 June 2015.
  6. To ensure members’ interests are maintained, the member relations team will ask the LV= Member Panel to confirm that the charity is aligned with our values. Their decision is final. If the charity is deemed unsuitable, another proxy vote will be selected.
  7. The member whose charity is chosen agrees to take part in publicity. They agree to having their name and county of residence published in LV= communications to announce the news and for related marketing purposes.
  8. For the full terms and conditions please go to LV.com/AGM
  9. We reserve the right to refuse to donate the allotted sum and/or to change these conditions at any time.

Our 2014 Annual Report and Accounts

LV=, County Gates, Bournemouth, BH1 2NF, UK