Chair message to members - LV= announces appointment of Chief Executive

Dear LV= member,

I am delighted to announce the appointment of David Hynam, who joins LV= today, as our incoming CEO.

Like any institution, LV= wants to attract the best talent; individuals with the right experience, drive and values to propel this proud mutual business forward and deliver strong returns for our members.

In securing the services of David Hynam, we have acquired a truly market-leading chief executive. He is the ideal candidate to help LV= continue to build a strong and sustainable future as a mutual life and pensions business and ensure that our mutual values thrive for the benefit of our members.

David has 30 years’ experience in retail financial services and brings to LV= an extensive track record of hugely successful leadership roles in the insurance sector. David’s roles have included; chief executive officer of Bupa’s UK and Global markets, UK CEO of Friends Life and chief operating officer of AXA.

David inherits a robust strategy and is committed to upholding mutuality at our core and building upon the strong foundation we have in place. His significant experience of business transformation and growth, and technical knowledge of insurance and financial services means we are in safe hands. David is the right person to lead LV= into the next exciting phase of its future as part of a resurgent mutual sector.

Mark Hartigan will leave the business at the end of September. I want to thank Mark publicly for his steadfast leadership and for everything he has done to strengthen LV= for the future. We wish him the very best.

The appointment of chief executive is an extremely important one and I look forward to introducing David at our AGM in October, as his appointment marks a new era for LV=. At the AGM, I will also give an unprecedented address directly to our members so that they are the first to hear about the steps David and I are taking to demonstrate that transparency and fairness will be at the heart of our mutual business going forward.

Under my tenure, LV= will be a leading example of the value that mutuality can bring both to its members and wider society and David is going to be a very important part of that.

I am excited by the future and I look forward to seeing LV= thrive under David’s leadership.

Simon Moore, LV= Chair