Potential pensions tie-up

Royal London in £500m pursuit of LV=

Barry O'Dwyer

Barry O’Dwyer: keen on buying smaller firms

Royal London, one of Scotland’s big pensions industry employers, is believed to be pursuing a takeover of LV=.

The two groups are said to be considering a £500m tie-up that would create a “mutual champion” with nearly 10m customers across the UK.

[Update 28 Sept: LV= confirmed it is in talks with “a number of parties” for a potential transaction].

City sources have told Sky News that a transaction would bring together the pensions, life insurance and asset management businesses of Royal London and LV=, ending the latter’s 177-year status as an independent business.

Between them, the two groups employ close to 6,000 people, more than two-thirds of whom work for Royal London which has a Scottish base in St Andrew Square and owns a number of old Scottish brands including Scottish Life and Scottish Provident.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.