UK group demutualises as private equity funds take a growing interest in the sector

LV, one of the UK’s largest and oldest mutually owned life insurers, is to sell itself to private equity group Bain Capital in a £530m deal. The sale will lead to a cash payout for LV’s 1.3m members, some of whom will also qualify for higher bonuses when their policies mature.

Oliver Ralph FT 15th Dec 2020