Press release

Richard Rowney steps down as chief executive of LV=

Savings, investment and protection provider LV= announces that Richard Rowney has today stepped down as Chief Executive and a member of the Board.  Richard will leave LV= on 31 December 2019.

The process to appoint a successor is now underway and in the interim, Alan Cook, Chairman LV=, will assume Executive Chair responsibilities.  These interim arrangements are subject to regulatory approval.

Alan Cook, Chairman, LV= said: “Richard Rowney has served LV=’s members, customers and staff with great distinction over the last decade and I thank him for all he has achieved.

“As Managing Director Life & Pensions he turned LV= into one of the UK’s leading specialist retirement and protection providers.  Most recently as Chief Executive he led the sale of LV=’s General Insurance business and the process to convert from a friendly society to a company limited by guarantee.

“The Board and Richard have agreed that the time is right for him to step down.  The process to appoint a new Chief Executive is now underway and we expect to conclude this before the end of the year.”

Richard Rowney said: “After 13 memorable years with LV= and the successful sale of our General Insurance business to Allianz, now felt like the appropriate time to step aside and seek a new opportunity outside of the Society.  Our members continue to enjoy the benefits of being part of a strong and successful mutual organisation and I look back with pride at the strong and trusted brand that our people have worked so passionately to create.”



About LV=:

LV= is a leading financial mutual and serves over 5.8 million customers with a range of financial products. 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 purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We offer our services direct to consumers, as well as through IFAs and brokers.

LV= and Liverpool Victoria are trademarks of Liverpool Victoria Friendly Society Limited (LVFS) and trading styles of the LV= Group of Companies. LVFS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered number 110035. Registered address: County Gates, Bournemouth BH1 2NF.


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