Royal London Royal London confirms discussions with LV= ceased (1375B)

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RNS Number : 1375B

Royal London

09 February 2022

9 February 2022

ROYAL LONDON CONFIRMS MERGER DISCUSSIONS WITH LV= HAVE CEASED

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 more information please contact:

   Meera Khanna                       [e-mail] 
   Senior PR Manager               07919 170502 

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of GBP153 billion, 8.8 million policies in force and 4,075 employees. Figures quoted are as at 30 June 2021.

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February 09, 2022 02:00 ET (07:00 GMT)