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1. Strategic Review

 

LV= has always been a strong advocate of mutuality, what has changed? You refer to the many alternative measures the Board considered for the future of LV=. Was this option accepted unanimously? What other options were considered?

What is the role of the With-Profits Committee in the strategic review and Board’s proposal of Bain Capital?

I understand the Board of Directors asked the question "what is best for our members" at each stage of the transaction process. What criteria were used?

2. Financial Benefits

 

Can you tell me the details of the one-off member payment?

Can you tell me the details of the enhanced payout on LV= With-Profits policies?

3. Member Eligibility Criteria

 

What are the eligibility details for the one-off member payment?

What are the eligibility details for the enhanced payout on LV= With-profits policies.

If my client purchases a new policy from the 1 March 2021 and they are not already a member of LV=, are they entitled to any member payment as a result of the proposed transaction?

A client’s policy is due to mature soon, will they still be eligible for the member payment?

Are there any With-profits members who will not benefit from an enhanced payout?

What happens if a policy lapses or terminates before the date of the Special General Meeting (SGM)?

My client already has an eligible policy but they would like to purchase an additional policy – will they qualify for the one-off member payment on the new policy?

4. Your client's policy

 

What does this mean for an existing policy?

What do you mean by With-Profits and non-profit members?

As a result of the Bain transaction will there be any change to policy terms and conditions?

Is a pension investment, currently under management with LV=, safe?

What changes will members see if the transaction goes ahead?

Will the Fund charges remain the same and will the asset mix change as the closed With-Profits Fund is wound down?

What are member-qualifying products?

How do I know if a client is a With-profits member?

5. Voting Process

 

Will members get a vote on the transaction?

What percentage of votes is required for this proposal to be passed?

What happens if you do not get 75% of members voting in favour of the transaction, what is Plan B?

6. Bain Capital

 

What are Bain Capital’s plans for LV= in outline?

Why have you chosen Bain Capital when from their many mergers they appear to have no experience or expertise in life and pensions?

What guarantee is there that the long-term interests of members will be protected?

In his letter to members in December, Mr Cook says that Bain Capital offers “an unrivalled commitment to LV=’s future”. What commitments have been made?

What are Bain Capital’s intentions for the future of the LV= business?

7. Board

 

How much will the existing board of directors receive on top of normal salaries and bonuses? A cynic might suggest that the size of this payout could influence the board?

What will happen to the current Board if the transaction goes ahead?

8. All-Party Parliamentary Group

 

What’s the position of the LV= Board on report from the All-Party Parliamentary Group (APPG) for Mutuals into LV=’s proposed transaction with Bain Capital?

Contact Phone

Let's talk

If you have any queries about this proposal please speak to your LV= Account Manager or you can email [email protected]

Calls may be recorded.

For TextDirect call 18001 followed by the phone number