In my view, the rejection by LV= policyholders of a takeover by US venture capital is good news. ‘Rejection’ may be too strong a word, as apathy, or at best abstention by most meant that the anti-takeover activists won the day. Looking at their annual report for 2019, it’s hard to believe that they were about to, or had to sell out, as it trumpets with apparently forked tongue, their profitability, great brand and mutual status. The latter will be maintained, it seems, as a merger with or takeover by Royal London, a company we like, seems on the cards. We’ll continue to watch this space.
“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.
