Liverpool Victoria (L.V.) seeking partners?

Money, investing, mutuals etc
planteria
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Re: Liverpool Victoria (L.V.) seeking partners?

Post by planteria » Thu Apr 04, 2019 11:14 pm

interesting..

https://www.lv.com/adviser/news/2018-fi ... erformance

potential conversion to 'a mutual company limited by guarantee'.

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Re: Liverpool Victoria (L.V.) seeking partners?

Post by planteria » Thu Apr 04, 2019 11:21 pm

"In the face of challenging investment conditions during the year the main LV= with profits fund returns were negative at -4.2%.". it will be interesting to see how bonuses look as a result, perhaps 'smoothing' will be very welcome this year..

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Re: Liverpool Victoria (L.V.) seeking partners?

Post by planteria » Sun Apr 07, 2019 10:44 am

who are LV members here?
pack arrived yesterday. thoughts re. voting?
i think from a 'bagger point of view voting Against could be wise: raise the chance of the business having to close/change, and block the scope for the conversion of non-member customers>members, thereby diluting assets/member.

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Re: Liverpool Victoria (L.V.) seeking partners?

Post by William Joseph1 » Sun Apr 07, 2019 11:40 am

My guess is it will not take many to vote against to make it a lame duck for them. They need 75% of those voting for, for them to be able to convert. its a high threshold and is a result of them changing the rules in 1999 (I think) in order to repel the possibility of baggers.
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Re: Liverpool Victoria (L.V.) seeking partners?

Post by planteria » Sun Apr 07, 2019 1:34 pm

agreed re. the background.
the %s are one of the things they want to change, ironically.
i suspect they will get it through, because so many members tend to follow the lead of the boards of mutuals..
are you a member WJ? are you voting Against?

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Re: Liverpool Victoria (L.V.) seeking partners?

Post by William Joseph1 » Sun Apr 07, 2019 2:55 pm

planteria wrote:
Sun Apr 07, 2019 1:34 pm
agreed re. the background.
the %s are one of the things they want to change, ironically.
i suspect they will get it through, because so many members tend to follow the lead of the boards of mutuals..
are you a member WJ? are you voting Against?
I am a member and at the moment undecided.
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Re: Liverpool Victoria (L.V.) seeking partners?

Post by planteria » Sun Jun 09, 2019 6:23 pm

so the results were:
Vote1: to convert to a company limited by guarantee: 8.8% turnout. 93.3% in favour.
Vote2: to clarify who is a member of LV=: 8.6% turnout. 94.5% in favour.
The board are satisfied with the turnout and results, and so are moving forward.
PRA decision in the summer.

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