LV= (Liverpool Victoria as was) is one of the last, great mutual insurers. Most were ‘demutualised’; if you’re one of the many who own Standard Life shares and can’t remember why, that’s why. Seemed like a good idea at the time, when ‘greed is good’ was the mantra but many have come to realise that there’s a lot to be said for the old-fashioned way of doing things, whereby every policyholder owns a little bit of the company. Some, including a number of MPs, who, as we’ve heard this week, should know about these things, are saying that the sale of LV= is a return to the ‘greed’ era. Let’s hope they’re wrong.
“Amazon invades financial services with home insurance launch”
Amazon, like Musk, and Branson before them both, can afford to try lots of stuff and fail at some.
