LV= overview

LV= (previously known as Liverpool Victoria) is a UK-based financial services business. The company offers general insurance for direct and broker distribution, life cover, income protection, savings bonds, investment, financial advice, financial planning, pensions, and retirement plans. It has around 5m customers.

LV= offers services directly to consumers, as well as through IFAs and insurance brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and some trades unions.

General insurance products covering motor, home, pet, travel and small business insurance are provided by Liverpool Victoria Insurance Company Limited. Some products are sold both directly to the public over the telephone and internet and, under the ABC Insurance and Highway brands, through insurance brokers. In 2017, LV= concluded a deal with Allianz to sell its general insurance division for a deal worth up to £1bn.

In October 2008 LV= acquired Highway Insurance Group PLC for £150m.

In 2017 LV sold its General Insurance business to Allianz for just over £1bn.

After suffering a £90m loss in 2018, the Group reported £15m in profit (before tax) from continuing operations in 2019.

In January 2020 LV= General Insurance acquired Legal & General’s general insurance business (L&G GI).

In April 2020, shortly after Admiral made a similar move, LV= offered refunds to its auto customers who were using their vehicles less due to the lockdown caused by global pandemic Covid-19. £30m has been set aside to offer refunds of £20-£50 to eligible direct car and motorbike insurance customers.

In August 2020 LV= launched Flow, a monthly car insurance subscription targeting millennials, which can be obtained through a photo of a driving license and 14 questions.

In December 2020, private investment firm Bain Capital has announced its plans to buy LV's savings, retirement and protection businesses for £530m. Chair Alan Cook stated 'significant long-term investment' was needed for the provider to continue as a standalone life and pensions business.

In December 2021, LV announced plans to reassess its long-term strategic options for members and the LV= brand.

During October 2022 the company launched ElectriX, a platform that offers drivers help to get on the road with an EV. The platform has been launched in partnership with fleet management services company CBVC Vehicle Management and EV charging company Indra Renewable technologies. Electrix enables customers to lease their own vehicle, buy a home charger and also obtain car insurance.

Map showing the location of LV=

Bournemouth, United Kingdom

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Key people

Stephen Treloar Founder
Pardeep Bassi Head of Data Science
Alan Cook Chairman
Mike Berry Head of CIO Change Delivery
Mark Hartigan CEO
Matt Crabtree Head of Financial Crime Strategy at LV= General Insurance
Barry Cudmore Chief Financial Officer