Further questions answered
FAQs issued after initial announcement
What exactly are you announcing?
Why is LV= doing this and why now?
What are Bain Capital’s plans for LV= in outline?
Does this mean LV= is demutualising?
You have always made a big deal about your mutuality, why are you abandoning this now?
Is LV= in financial trouble and has this been triggered by the pandemic?
What do you mean by a With-profits member?
How many members do you have and how many are With-profits members?
What do you mean by ‘non-profit’ or ordinary members?
Why is this deal in the best interests of members?
Will members get a vote on the transaction?
Will members get a windfall payment and when? What will this be?
Can you explain why members will be getting different distributions?
How much, on average, will members of the With-profits fund get?
What is the payment all members will get?
Will members keep their existing member benefits?
Is there any impact on IFAs?
Will this have any impact on existing contracts or terms of business agreements?
Will you be withdrawing from any business lines?
Why should IFAs continue to place business with you when you are no longer a mutual?
Will you be looking to reduce or expand the number of IFAs you do business with?