LV= has confirmed it is exploring a possible sale of its Liverpool Victoria Financial Services business, a member-owned life and pensions group.
Sky News reported last week that a disposal of the life and pensions arm was under consideration by LV=.
In a statement, the insurer said that it was looking at a “wide range of strategic options”.
“Some but not all of these options may involve a transaction with a third party. No conclusions have yet been reached as to the most appropriate option to pursue,” it added.
Any deal would have to ensure that the business continues to be operated in the best interests of all its members, the company said.
LV= set up a joint venture with Germany's Allianz for its general insurance operation in 2017, with that business eventually being sold to the German group at the end of last year.
This year, LV= converted from a friendly society to a company limited by guarantee, a move it said that would give it more flexibility in its dealings.
Corporate finance boutique Fenchurch Advisory Partners is advising LV= on its options.