THE major Dorset employer LV= is considering selling the business as one of a “wide range” of options for the future.

The company, which employs hundreds of staff at its County Gates HQ, completed the £1billion sale of its general insurance operation to Allianz last year.

It issued a statement to the Stock Exchange on Monday morning after reports that a sale of the rest of the business could be in the pipeline.

The statement said: “The board of Liverpool Victoria Financial Services Limited notes the recent press speculation regarding a possible transaction in relation to its business.

“LV=’s board is fully committed to maximising long term value for its members and is therefore assessing a wide range of strategic options following the disposal of the general insurance business to ensure that the remaining business continues to be operated in the best interests of all its members. 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 and there can be no certainty that this review will result in any transaction being agreed or with whom.

“A further announcement will be made if and when appropriate.”

LV= completes £1billion sale of its general insurance business to Allianz

Reports suggested Fenchurch Advisory Partners had advised LV= to consider a sale of the remaining business.

A report by Bloomberg named several potential buyers who were understood to have submitted bids last week.

It named the venture capital firm Cinven Limited, European Insurance Consolidation Group, Phoenix Group Holdings, Royal London and Utmost Life and utmost Life and Pensions as the would-be buyers.

LV= back in profit after staff cuts

Earlier this year, LV= revealed it had returned to profit.

Full year results for 2019, the year it finished selling its general insurance arm, showed profit before tax from continuing operations reach £15million after a £90m loss the previous year.

A raft of job cuts was the main contributor to a £3m reduction in costs.

Meanwhile LV= General Insurance, the business it sold to Allianz saw profit fall 13 per cent to £93m, although income from premiums grew.