LV= Appointment of Chief Executive (5887A)

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RNS Number : 5887A

LV=

26 September 2022

For immediate release - 26 September 2022

LV= ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE

Insurance, investment and retirement specialist Liverpool Victoria Financial Services Limited (LV=) has today announced the appointment of David Hynam as its incoming chief executive, subject to regulatory approval.

David brings to LV= extensive executive experience in the UK insurance sector, including as c hief executive officer of Bupa's UK and Global markets, UK CEO of Friends Life and chief operating officer of AXA. He has 30 years' experience in retail financial services.

During his time at Bupa, David achieved record levels of growth and launched a range of successful digital services for members. He was responsible for Bupa's award-winning pandemic response in the UK, as the first major health insurer to offer a member and customer Covid rebate.

David Hynam will join LV= on 26 September 2022. He succeeds Mark Hartigan who announced his decision to step down as chief executive after two years in an interim role and will be leaving the business at the end of the month.

Simon Moore, LV= chair, said :

"In securing the services of David Hynam, LV= has acquired a truly market-leading chief executive. He is the ideal candidate to help LV= continue to build a strong and sustainable future as a mutual life and pensions business and that our mutual values thrive for the benefit of our members.

"David brings with him a track record of hugely successful leadership in the insurance sector, while his extensive experience working with distribution partners, intermediaries and brokers, means he is a perfect fit for LV='s mutual business model.

"As well as his commercial and technical knowledge of the insurance sector and financial services, it is David's values-driven approach and strong track record of business transformation and growth that makes him the right person to lead LV= into the next exciting phase of its future as part of a resurgent mutual sector.

"Under my tenure, LV= will be a leading example of the value that mutuality can bring both to its members and wider society and David is going to be a very important part of that."

"I look forward to introducing David at our AGM in October, as his appointment marks a new era for LV=. At the AGM I will also give an unprecedented address directly to our members so that they are the first to hear about the steps David and I are taking to demonstrate that transparency and fairness will be at the heart of our mutual business going forward."

David Hynam, incoming LV= chief executive, said:

"LV= is both a trusted brand and a company with a fantastic purpose. I am excited to be part of the future growth of LV= and look forward to driving opportunities, whilst meeting challenges head on. My priorities will be to work with the team at LV= to deliver a true mutual culture, realise LV='s huge distribution potential and drive business performance so that we deliver the best possible outcomes for our members, advisers and colleagues."

About David Hynam's career

David Hynam has spent 30 years in the financial services and insurance sector.

He began his career at Barclays in 1992 working in a variety of roles before becoming chief operating officer at Barclays' Offshore business.

He joined AXA UK in 2001 in a senior operations role, ultimately overseeing operations for the UK and Ireland. When Resolution acquired the majority of the UK life business from AXA, merging the business with the Friends Provident business to create Friends Life, David joined Friends Life as Group COO, leaving as UK CEO in 2013.

He joined Bupa UK in 2014 and led the transformation agenda for the UK business as well as running the Health Clinics division. His most recent role was as chief executive officer of Bupa's UK and Global markets, which included all the UK businesses and international health insurance.

To learn more about David Hynam's appointment please visit www.lv.com/today

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Notes to Editors

For more information please contact:

Candice South [e-mail] 07867 141547

About LV=:

LV= is a leading retirement and protection specialist. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited (LVFS) and trading styles of the LV= Group of Companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF.

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September 26, 2022 02:00 ET (06:00 GMT)