Liverpool Victoria

(asked on 8th February 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many meetings the Financial Conduct Authority has held with (a) the Board of Liverpool Victoria (LV), (b) members of LV and (c) Royal London since the collapse of LV’s demutualisation/Bain sale plans on 10 December 2021; and if he will make a statement.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 16th February 2022

The Financial Conduct Authority (FCA) is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the Honourable Member by letter. Copies of the letters will be placed in the Library of the House.

Regarding the costs relating to Liverpool Victoria’s (LV’s) proposed demutualisation and sale to Bain Capital, these will be disclosed as part of LV’s 2021 annual report.

In respect of a potential merger between LV and Royal London, these parties have announced that their talks have ceased, and consequently there is nothing further for the Government to add on this matter.

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