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a mutual future

LV= today and tomorrow

David Hynam, LV= Chief Executive

On 26 September we welcomed David Hynam as LV= chief executive. Find out more about David, his career and experience. Read a message to members from our chair, Simon Moore and view the press release.

 

We've been through an important phase in our 179 year history

We look forward with confidence to a sustainable future for LV= as a vibrant mutual insurer.

Latest member news

20 DECEMBER 2022

An end of year message to members

Read a message to members from our CEO, David Hynam

Dear LV= members

As the festive period draws closer, I wanted to wish you an enjoyable season ahead and share a couple of thoughts as I clock-up three months as your CEO of LV=. 

Getting to know LV=, and meeting colleagues and members, has shown me how proud I am to be leading this great mutual business. We have a long history dating back to 1843, yet our propositions and services are as relevant now as ever. 

Our LV= colleagues, across every site, are committed to deliver great outcomes for you, our members. This is something we will continue to build on in 2023, as we launch our online LV= Member Community and continue to hear more directly from our members.

There’s no doubt that the current economic challenges and uncertainty are affecting businesses around the UK. We are not immune to this and we know that our members will be no less affected, not least by the rising cost of living.




At our AGM in October, I made a commitment - the same commitment that I am giving you now - that as CEO, I will always put you, our LV= members, at the heart of what we do. Every day I hear feedback from our teams about situations where our colleagues have supported and helped members directly – and that is exactly the LV= we want to be. 

As a mutual insurer we are focused on building financial confidence for members and their loved ones. Never has there been a more important time and role for LV= to play in the lives of our members. 

Every good wish to you and yours for the festive period and the New Year.

Yours, David

26 September 2022

LV= announces appointment of chief executive

Read a message to members from our chair, Simon Moore

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


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Simon Moore talks about what mutuality means to him, what attracted him to LV= and what his plans are for the business

View video transcript

18 JULY 2022

LV= announced that Mark Hartigan has confirmed his intention to step down as interim chief executive and a member of the Board

Read a message to members from our chair, Simon Moore

Dear LV= member,

Today we have announced that Mark Hartigan has confirmed his intention to step down as interim chief executive (CEO) and a member of the LV= Board.

The process to appoint a new permanent chief executive is already underway and Mark has agreed that he will remain in his interim role while the search for his successor takes place

Mark was engaged on an interim basis to perform two discrete business tasks. The first, and most important, was to improve the underlying commercial performance and fundamentals of the business. The second was to carry out a full strategic review as instructed by the Board - which ultimately led to the proposed transaction with Bain Capital.

That transaction did not proceed with you - our members - sending a clear message that mutuality remains important to you. Mark has led a successful turnaround of the business, in our recent 2021 financial results we announced that we outperformed both in terms of our new business volumes and there has been significant growth in sales and trading profit.

Now, as we look forward to the future with confidence, the Board and Mark have agreed that the time is right to appoint a permanent chief executive to build on this platform and further develop a sustainable mutual future for LV=.

On behalf of my fellow Board members I would like to thank Mark for everything he has done during his time as LV= chief executive.

We will keep you updated on the search process for our next permanent CEO.

Rest assured that nothing changes for you – your policies, products and services remain as they are today and we look forward to supporting you to live confident and having you on board for the next chapter in LV=’s story.

Simon Moore

Our 2021 financial results

All you need to know about how we performed in 2021 and more

Membership matters

News for our members and information about member benefits

Member news

Catch up on our previous member news from 2021 and 2022