Members and policyholders have yet to receive full details of potential £530m sale to Bain Capital

MPs are to investigate the £530m potential sale of the insurance mutual LV= to the private equity firm Bain Capital amid fears that policyholders and members could lose out.

The takeover of one of Britain’s biggest financial mutuals, founded in 1843 and trading for most of its life as Liverpool Victoria, has proved controversial as members and policyholders have yet to be given full details of any benefits they might receive or why Bain’s offer was selected over a number of others.

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