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Interim chair outlines what LV= wants in permanent replacement

Interim chair outlines what LV= wants in permanent replacement | Insurance Business UK

Interim chair outlines what LV= wants in permanent replacement

Seamus Creedon – who recently came onboard Liverpool Victoria Financial Services Limited (LV=) to serve as interim chair with a focus on finding a permanent replacement – has revealed the qualities that the insurer is looking for.

In a video message addressed to LV= members, Creedon stated: “The chair’s responsibility is to lead the company’s board, responsible for the strategic direction of LV=. But my main project will be to rebuild LV=’s board and, particularly, to oversee the recruitment of LV=’s next permanent chair.”

The interim chair said his job is to ensure that LV= has the right chair in place to support the executive team and guide the company into the future.

“First off,” he noted, “we want to consider as diverse and broad a pool of candidates as possible. But, of course, there are some fundamental things we are looking for. Obviously, we’re looking for highly intelligent candidates, with strong business acumen, leadership skills, outstanding integrity, and also – and this is really important – someone who is the right fit for LV=.”

The key arrival went on to highlight: “LV= isn’t just any business. We are a member-owned mutual insurance company. And we want a chair who shares the values of LV=’s members. In our recruitment process, we will be looking for candidates ideally with a strong record of involvement in diverse business models and contribution to society.”

LV=, which has once again embraced its mutual roots following failed takeover deals, has been around for nearly 180 years. In 2021, the insurer lamented it could no longer make mutuality work; after a potential sale was blocked, however, LV= went for plan B and listened to members’ feedback.

“Throughout our 179-year history, LV= has always sought to help people to protect and provide for those they love, and to live more confident lives,” added Creedon. “Our next chair will carry that torch and will be responsible for securing LV=’s future as part of a thriving mutual sector.”