LV guns for broker business after making £150m offer for Highway

LV has confirmed acquisition talks with Highway Insurance Group, after it revealed a recommended cash offer for the share capital - valued at approximately £150m - for the broker-only insurer.

At the time of going to press, LV said in a Stock Exchange announcement that Highway shareholders would receive 75p in cash for each share held.

In a statement, LV said the acquisition would help to "accelerate its ambitions in the broker underwriting channel, allowing it to add scale and expertise as well a