Life insurance company LV= is reportedly in talks with Royal London Asset Management (RLAM) over a potential sale of the business.
According to Sky News, LV=’s board is said to have congregated this week to discuss the progress of a strategic review that was carried out in June.
A decision about a deal with Royal London will potentially be reached within days.
It is believed that if an agreement can be made, it could lead to the LV= brand vanishing from the life and pensions market permanently.
Sky News continued to state that an exact valuation of the LV group is unknown however according to sources it is believed to be in “excess of £500m but “substantially less” than £1bn.”
It is also thought that Royal London would fund the purchase using the proceeds of a £600m debt-raising it undertook last year.
Insurance Wire has contacted LV= for comment.