Media centre archive

Browse through our archive of press releases and media statements

Our media centre archive is designed to provide journalists and commentators a look back at previous news and comment from LV=. Members and customers should not rely on the information within these pages to form the basis of investment or other financial decisions. If you're a member or customer looking for information on our products, services and advice please visit our main website. Check out our latest press releases and media statements.

February 2022

9m adults change jobs during covid pandemic

Covid pandemic, lockdowns and working from home has prompted many to change jobs Pay rises (27%)  and a more enjoyable job (22%) were the most common reason for changing jobs More than half of job changers say they increased income but 18% took a pay cut 12% of job changers say…
Life and Pensions

LV= maintains payment break option to support vulnerable customers

Introduced in April 2020, payment breaks enable financially vulnerable members to maintain cover if they were experiencing financial difficulties  Now permanently open to vulnerable customers, eligible members unable to pay their premiums can apply for a maximum of three months …
Life and Pensions

LV= provides update on discussions with Royal London

LV= entered into merger discussions with Royal London at the start of the year. However, it has become clear to LV= that our different mutual models mean such a merger would not be in the best interests of LV= members. As a result, talks between the two companies have now ceased. Seamus Creedon, LV=…
Life and Pensions

LV= announces Board changes

Liverpool Victoria Financial Services Ltd (LV=), the 179 year old mutual insurer, today announces several changes to its Board of directors. With effect from 01 April 2022, and subject to regulatory approval, Seamus Creedon will take over as interim chair from Alan Cook who indicated his intention…
Financial and Corporate

7.5m over-55s worry about rising prices

People aged 55-64 are now less confident about retirement than they were a year ago Over-55s are the group most likely to be worried about rising prices Research from pensions and retirement specialist LV= highlights how Britons approaching retirement are increasingly worried about rising…
Life and Pensions

January 2022

LV= launches more affordable critical illness cover

Protection specialist LV= is adding a more affordable variant of critical illness cover to its protection range, providing more choice and flexibility for customers at different life stages. The new LV= Life and Critical Illness Cover covers 41 conditions, including 39 full payment conditions and two…
Life and Pensions

13m expect their finances to worsen over next three months

The emergence of the Omicron variant has dented consumer confidence.  More people expect their finances to worsen over next three months and higher number say their finances have deteriorated over previous three months. People continue to spend more and save less as outgoings…
Life and Pensions

December 2021

Nearly 12m plan to increase Christmas spending

Nearly half (47%) of those who are spending more say they are doing so because of rising prices But one in three who are spending more want to make up for a tough year and 27% say they will be spending money saved because of Covid restrictions Research from pensions and retirement specialist…
Life and Pensions

LV= announces result of the member vote at Members’ Meeting

LV= today announces the results of its Members’ Meeting.  This follows the outcome of the vote on the acquisition of the LV= business by Bain Capital at the Special General Meeting earlier today, with the result that the transaction with Bain Capital will no longer proceed. 69% of members…
Financial and Corporate

LV= announces next steps to determine future direction

• LV= to swiftly reassess its strategic options and explore alternative ways to provide the best long-term outcome for members, the business, employees and its wider communities.    • This result will have no impact on trading; the business will continue to serve its customers as…
Financial and Corporate

LV= announces result of the member vote at Special General Meeting

Significant majority of voting members in favour of proposed transaction with Bain Capital, but the required 75% threshold is missed. 69% of members who voted supported the Special Resolution to approve the acquisition of the LV= business by Bain Capital at the Special General Meeting (‘SGM’) …
Financial and Corporate

November 2021

Open letter to LV= members from Employee Consultative Chair

Dear Members, As the chair of the LV= Employee Consultative Forum (ECF)*, I wanted to reach out to you directly regarding the upcoming member vote on the 10 December, and to share my views on the proposed transaction with Bain Capital. I write this with the best interests of our employees and the future…
Life and Pensions

Response to Royal London statement

Background to the process and engagement with Royal London to date LV= undertook the sale of its General Insurance business in 2018 and 2019 in response to the need to improve its capital position. Following the sale, LV= was left with a sub-scale life insurance business that required investment in…
Financial and Corporate

October 2021

3.6m over-65s worry pension triple lock will be abolished

2.5m over 65s are concerned that rising inflation and low interest rates are eroding their savings Research from pensions and retirement specialist LV= highlights the worries of millions of people aged over 65. The LV= Wealth and Wellbeing Monitor* - a quarterly survey of 4,000+ UK adults…
Life and Pensions

LV= pays £309,000 for Income Protection claim lasting more than 35 years

About LV= LV= is a leading retirement and protection specialist. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar…
Life and Pensions

Consumers feel the pinch of rising prices

People are now spending more and saving less than last quarter, as price increases cause outgoings to rise  14.1m people are worried about rising prices of everyday items and 7.6m worry that their savings are being devalued by low interest rates and rising inflation However, things…
Life and Pensions