Royal London and rival financial services firm LV= in talks about £500m tie-up

Royal London and rival financial services firm LV= are in talks about a £500m tie-up.

The potential deal could see the pair combine their life insurance, pensions and asset management divisions.

It would mean that LV=, better known as Liverpool Victoria, would end its 177-year run as an independent business.

The two companies could form a 'mutuals champion' boasting some 10m UK customers, sources told Sky News.

Royal London is Britain's largest mutual insurer.

Private equity firm Bain Capital is seen as a potential rival bidder for LV=, which is thought to be worth between £500m and £1billion.

Reference: Daily Mail City & Finance Reporter 5 days ago: 28/09/2020