‘London Victoria Insurance’ 2025 *LV= Life Quote > 15 secs (Review)

‘London Victoria Insurance’ Background Review

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Victoria House London was built by the Insurers in the 1920’s in Bloomsbury Square, as their impressive neoclassical new London and Victoria post era main head offices.

Today, this grand original Neoclassical Grade II-listed building is now also home to the impressive Bloomsbury Ballroom art deco space.

Although Liverpool Victoria was founded 1843 as a burial society in Liverpool, the Insurers wished to expand their business enterprise down south into the London capital in the early 1900’s.

The London Victoria Insurance House is not to be confused with the London Victoria station building, which was named after the nearby Victoria Street and built just a few miles away back in the mid 1800’s.

In 1996 Liverpool Victoria moved their head offices further south again into the Bournemouth area, having then bought Frizzell Insurance.

At that stage, they rebranded to just LV= and become one of the UK’s biggest Friendly Societies & Insurers. 

However in 2020, international insurers Allianz took over Liverpool Victoria general insurance division. 

By summer 2020, LV Liverpool Victoria insurance were then re-assessing again their overall business model, by putting themselves up for sale and possibly de-registering as a friendly society.

Suitors then reportedly had included their former fellow mutual Royal London Insurance. They were some insurance panels preferred suitor, ahead of its then competitor Bain Capital.

So was the ‘London & Victoria Insurance‘ new mutual brand name or ‘Royal Victoria Insurance’ a possibility? 

Royal Victoria Insurance?

Royal London had then offered to enter into these discussions with LV= on a potential mutual merger.

If that merger went ahead, it could result in a new brand named mutual for the 2020’s? 

In the meantime, both Insurers stated that any ongoing discussions will have no impact on day-to-day business, clarifying that there is no certainty that any talks would result in a transaction deal.

Financial Advisers speculated & also argued that any deal with Royal London would create less consumer choice and so fewer mutuals? This link-up saga continues…

Bain Capital = LV = Insurance 2021 Saga

Before the end of 2021, LV= management had agreed instead to sell their business to Bain Capital, ahead of Royal London and subject to members approval. However, this contentious deal for $530 million fell through.

The well publicised sale of LV Insurance to Bain Capital seems to have been controversial from the start, drawing both criticism from various politicians & public.

The Bain Capital takeover would have meant that LV= would also lose its long standing mutual status, with members given only £100 each as part of this transaction.

Many LV= members were still very unhappy over their potential demutualisation plus the small size of payouts on offer from this deal.

As such, this offer did not get enough support from LV= members for this particular transaction story and so this sorry saga seemed to end there.

“LV= should not run from the arms of Bain straight into those of Royal London, without standing back and deciding what its options are,” an LV= policyholder told the Sunday Times.

To date, this situation re Royal London seemed to be the case as LV= have turned down any possible merger or takeover. So it’s a no to London and Victoria Insurance, for now.

Does the LV= Saga show mutuals need their own Takeover Panel?

This is the point argued by the Guardian newspaper. They argue the dissatisfaction around the proposed LV= failed deal with Bain Capital will be harder to shift.

As any negotiations with fellow mutual Royal London may possibly ensue, their reporters state the muddle arises because the rules around transactions involving UK mutuals lack a basic level of accountability to the owners ie; their members.

*Would a London and Victoria Insurance merger affect my Policy?

If any discussions ever become successful to form say a new style London Victoria insurance company, then any existing policies will be then administered by a new single named company brand.

Often, a specialist division is setup to administer this process, with a separate London Victoria insurance phone number & customer services.

This is usual practise in insurance mergers or takeovers but then both would also need to confirm none of their terms of their individual policies will change.

If you have life insurance plans, critical illness plans or income protection via either Liverpool Victoria life insurance or Royal London, they both state your policies would continue as normal.

Should this merger ever happen in the 2020’s, both companies operate in similar protection areas. The 2 Insurers brands cover both personal & business underwritten insurance protection.

However, the question would be, would they continue to operate as 2 seperate protection brands, or a new brand like London & Victoria Insurance or Royal Victoria Insurance to emerge?

Conclusion re London & Victoria Insurance Company

Both Life Insurers over the years have acquired other insurers, that were once well established brand names. But what happened then re any proposed London Victoria Insurance contact number of old brands?

Royal London for example took over Royal Liver, United Friendly & Scottish Provident. LV= took over Frizzell Insurance and also Teachers Assurance.

However, despite any promises perhaps made at the time to keep these once iconic company names going, some of these old brands just sadly and slowly disappeared.

At this current time, both Insurers state you will still deal with Royal London and LV= Liverpool Victoria insurance separately should anything ever happen.

As such, the potential R London and Victoria Insurance story or this ongoing saga in the 2020’s maybe possibly continues…

Article on London & Victoria Insurance Reviews by Martyn Spencer Financial Adviser Updated (2025)

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