A group of UK lawyers will examine Bain Capital’s 530 million pound ($ 728 million) contract for the savings & retirement and defense businesses of Victoria Services, The Guardian recitation.
Members of the parliamentary group are concerned about the impact of the deal on members of the company, the insurance industry and competition in financial services, said Gareth Thomas, Labor MP for Harrow West and chairman of the all-party parliamentary group for its each other. the Protector.
The group invites LV = Chairman Alan Cook and Chief Executive Mark Hartigan to give evidence. The research will consider whether the company’s recommendations are good for policyholders, competition and the industry.
Hartigan told the Guardian that he welcomes the opportunity to explain why Bain single was instrumental in offering not only a good financial return to members but also a long-term commitment to LV = prospects. in the future.
Members and policymakers were not informed as to why Bain’s offer was chosen over others, according to the report. The board of the group considered an offer from Royal London and received similar offers from each other, the Guardian said, citing acquaintances, but opted to join Bain, which is better known for investing in businesses. other.
A spokesman for LV = told the Guardian that he had asked for a takeover offer due to restrictions on mutual insurance companies raising investment money in the market in general.