MPs Criticize Insurer's Managers On £530M Takeover Plans

Law360, London (April 8, 2021, 1:49 PM BST) -- Lawmakers have raised concerns that managers at Liverpool Victoria have "not been open and transparent" with policyholders about a structural change at the mutual insurer, which is being sold for £530 million ($728 million) to a private investor in the U.S.

The All-Party Parliamentary Group for Mutuals said on Wednesday that the board of Liverpool Victoria Financial Services Ltd., which trades as LV, has not provided "any meaningful information" to its members about its sale to Bain Capital Credit LP. 

LV agreed to sell to Bain in December, saying the investment firm will give the insurer the backing it needs to...

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