UK insurer LV= confirms potential takeover talks

UK insurer Liverpool Victoria Friendly Society (LV=) has confirmed that it is in talks with a "number of parties" regarding a potential takeover.

LV= has already sold its general insurance business LV GIG to Germany's Allianz.

The company said a further announcement will be made regarding the potential sale, although there is no certainty that the negotiations will result in a deal.

The insurer also insisted that it continues to trade well and has adapted effectively to the impact of COVID-19 with a strong capital coverage ratio in excess of 200 percent.

In a statement to the London Stock Exchange, the insurer said: "The Board of Liverpool Victoria Financial Services Limited (LV=) notes the recent press speculation and confirms that as part of a previously announced Strategic Review it has been and remains in discussions with a number of parties regarding a potential transaction.

"Discussions are on-going and there can be no certainty that the discussions will result in any transaction being agreed or with whom."