While LV says Bain Capital’s investment will develop its service for customers, Shaun Tarbuck, chief executive of the International Co-operative and Mutual Insurance Federation, takes a more sceptical view, saying that mutuals, which are owned and run for the benefit of members, “far out-deliver” on service to customers.
Whether LV will defy the negative expectations associated with demutualisation – if the provider goes down that road – only time will tell.
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Chloe Cheung is a features writer at FTAdviser
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