6 LV= Annual Report 2012
Our Strategy Our Heritage Business
Our strategy is to grow the value of our business Whilst growing our successful general and life
for the benefit of our members. insurance businesses, we are also very mindful of
our heritage and our members who have contributed
To achieve this we aim to put the customer at the to it. We define our “Heritage” business as:
centre of everything we do and live by our three
brand promises: • With-profits policies originally written by
Liverpool Victoria Friendly Society, including
Easy to do business with new with-profits sales.
Great value • With-profits and other policies originally written
A caring approach by the Royal National Pension Fund for Nurses
(RNPFN) before its transfer to LV= in 2001.
Throughout our 170 year history, this focus on the • Non-profit annuities purchased from the proceeds
customer has been key to the products and services of with-profits pension policies together with a
we have offered and is the guiding principle behind minor number of other policies which includes
the ongoing success of the group. some transferred from other companies.
Today with over 5,600 employees working in 17 We are committed to offering our with-profits members
offices across the UK, we are the UK’s largest friendly a fair return on their investments, honouring any
society and a leading financial mutual, with more than guarantees we have made on our policies and
five million members and customers. providing all our members with great customer service.
We also have a mutual bonus scheme, designed to
reward eligible members for their ownership of LV=
and the risks taken in supporting the establishment
and growth of the group’s trading businesses.
2013
5,600employees
2008
+ 2003
1998
1993
1988
1983
1978
1973
1968
1963
1958
1953
1948
1943
1938
1933
1928
1923
1918
1913
1098
1903
1898
17offices 1893
1888
1883
1878
1873
1868
1863
1858
1853
1848
1843