LV is reported to be in talks with German giant Allianz to buy part of its business as the UK insurer seeks to increase its capital . The firm revealed a £139m hit in April, meaning operating profit for the year slumped to £20m. LV has signalled it is looking at ways to increase its capital after a government change to the way life insurance payouts are handled all but wiped out its profits . The company has been approached by a number of trade , pension and sovereign wealth funds , according to reports , with one analyst valuing LV 's general insurance operations at £ 1bn .
LV is reported to be in talks with German giant Allianz to buy part of its business as the UK insurer seeks to increase its capital . LV has signalled it is looking at ways to increase its capital after a government change to the way life insurance payouts are handled all but wiped out its profits . The company has been approached by a number of trade , pension and sovereign wealth funds , according to reports , with one analyst valuing LV 's general insurance operations at £ 1bn .