By Martin Croucher (November 22, 2021, 12:56 PM GMT) -- Mutual insurer Liverpool Victoria said on Monday that it is poorly capitalized, desperately in need of investment and will struggle to remain independent if its members reject a proposed £530 million ($712 million) U.S. takeover bid.
LV said that a review it commissioned last year concluded that the company was a "sub-scale life and pensions business with an insufficiently strong capital structure and a loss-making new business unit."
The insurer was the target of 12 takeover bids in 2020. The firm finally settled on a £530 million offer from a U.S. private equity company, Bain Capital Credit. But the deal has to...
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