The Guardian view on LV's buyout: stop this terrible backroom deal - NewsBreak

It was founded shortly after Victoria ascended the throne, and over the intervening 178 years a few changes have naturally been made. What was once the Liverpool Independent Legal Victoria Burial Society later became Liverpool Victoria, and now calls itself, rather tersely, LV=. Where agents used to go door to door collecting pennies to cover funeral costs, today the brand is slapped on everything from pensions to pet insurance. The HQ has shifted from Liverpool to Bournemouth. But one big and rare thing remains in place: LV is still owned by its customers, all 1.2 million of them. That makes it one of Britain's last great mutuals. For now.