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LV= says ‘friendly’ rebrand is a success

LV= group chief executive Mike Rogers believes the company’s rebrand has been successful in moving it away from a “stuffy” corporate image back to its friendly society roots.

Rogers says he has only received four letters in relation to Liverpool Victoria’s rebrand, which took place at the end of last year, with two letters praising the new look.

He says: “The brand had become a bit old fashioned. We went through whether we should rebrand totally but I was deeply cynical about leaving our heritage behind. We are supposed to be a more friendly, approachable brand.”

Rogers admits that the integration with Tomorrow, which completed in January, was complicated but he is pleased with the results.

The back book of Tomorrow’s pension customers was transferred to Windsor Life, which has resulted in many complaints from advisers and clients relating to poor admin and service problems.

Rogers says: “It is very unfortunate and disappointing but it has never been our business so there is nothing we can do about it.”

The Tomorrow deal came along just at the right time for LV, which was looking to add a traditional pension business to its operations.

Rogers says the acquisition of Tomorrow instantly trebled the size of its life business and moved the mutual into new market areas such as enhanced annuities.

Looking to the future, LV will be relaunching into the equity-release market, where Rogers says the mutual could credibly be a top five player.

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