Bain Capital moves to reassure LV= customers as Royal London reignites interest

Proposal 'maintains an independent LV='

The private equity firm that has had its bid accepted to buy LV= has moved to reassure the mutual's customers ahead of a vote on the £530m deal set to take place next month.

Bain Capital, the US private equity firm, said it was committed to the long-term growth and success of LV= and will invest significantly in the business. Over the weekend reports emerged of Royal London trying to instigate a possible three-way deal between itself, LV=, Bain Capital. It is known Royal London had a bid rejected for its rival mutual insurer as LV= instead chose Bain Capital's offer of £530m. The Mail on Sunday reported at the week that Royal London chief Barry O'Dwyer had made the proposal to LV= chief executive Mark Hartigan. The newspaper reported that the message s...