The member virtual event organised by Liverpool Victoria Financial Services Limited (LV=) has now taken place, explaining why the mutual life pensions and investments group decided to enter into a £530 million sale agreement with Bain Capital Credit LP.
Hosted by corporate affairs head Jon Sellors, the webinar took place yesterday (February 03) afternoon and was attended by more than 200 LV= members. Among the speakers were chairman Alan Cook CBE, chief executive Mark Hartigan, and with-profits committee chair Dr David Hare.
They were also joined by remuneration and nominations committee chair Alison Hutchinson, corporate strategy director Mark Laidlaw, and company secretary Michael Jones.
“We’re delighted that over 230 of our members joined us for the member virtual event,” stated LV=, which during the webinar provided the background to the insurer’s strategic review and proposed transaction with Bain Capital.
The discussion also revolved around the independent with-profits committee and the role it played in the strategic review, as well as the next steps in the takeover process.
“We will be sharing more information and content from the event over the coming days – starting with a copy of the questions and answers that were posed by our members before and during the event,” added LV= in its update.
LV= members were previously offered assurances that they “will be able to have their say” in the transaction, which will require their go-ahead by way of votes at a special general meeting.
