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LV= takeover may create conflicts of interest, says boss of trade body
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Bosses at the insurer LV= have been criticised over alleged conflicts of interest in its controversial £530m private equity takeover, which has been labelled a “three-act tragedy”.
LV= plans to demutualise in order to receive investment from Bain Capital, a US private equity firm. However, three-quarters of its member-customers must back the plan in a vote on 10 December.
Martin Shaw, the chief executive of the Association of Financial Mutuals, said he saw a “potential conflict” between the chief
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