LV= terminated the $707m acquisition savings & retirement and protection businesses by Bain Capital.

Bain Capital agreed to acquire the savings & retirement and protection businesses from LV=, an insurance company, for £530m ($707m). The acquisition is subject to regulatory approval and approval from LV= members. It is expected to complete by the end of 2021, subject to the conclusion of the legal process. “The partnership with Bain Capital recognises the opportunity to further invest to develop LV= at a time when it is well positioned, growing market share, expanding its products and trading resiliently, despite the pandemic. While our corporate structure will change, our culture and values remain the same. The Board is excited by the opportunities it creates for our people, partners and customers – enabling the LV= brand and business to further develop as a major force in the UK life insurance market,” Mark Hartigan, LV= CEO. On 22 November, 2021, LV made the decision to accept the deal. On 10 December 2021; LV= terminated the $707m acquisition savings & retirement and protection businesses by Bain Capital.