09 February 2022

Royal London confirms merger discussions with LV= have ceased

3 min read

Meera Khanna, Senior PR Manager
Meera Khanna

Senior PR Manager

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On 10th December 2021, Royal London issued a statement outlining our belief that we could offer an attractive future for the members of LV= as part of a growing and well-capitalised mutual.

Discussions between Royal London and LV= on the potential for a mutual merger have ceased.

Barry O’Dwyer, Group Chief Executive of Royal London, said:

“Mutuals are owned by their customers and are run for their benefit.

“Our offer to preserve LV='s mutuality through a merger with Royal London was based on an understanding that LV= did not have a viable future as an independent company. 

“For Royal London’s customers and members, nothing changes.  We remain committed to delivering great value products, backed up by market-leading customer service.  We look forward to sharing a substantial level of profits with our eligible customers in April, as we normally do.”

-ENDS-

 

For further information please contact:

Meera Khanna, Senior PR Manager

About Royal London

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £153 billion, 8.8 million policies in force and 4,075 employees. Figures quoted are as at 30 June 2021.