Threadneedle is seeking to take over Liverpool Victoria’s £8 billion investment unit LV= Asset Management (LVAM), Financial Times reports. The Bournemouth-based firm is offloading its asset management business to focus on general insurance and life assurance products.

The medium term contract will allow LV= to replace London-based Threadneedle with another asset manager after a number of years. The deal will increase Threadneedle’s assets under management to nearly £75 billion.

Click here for the story from Financial Times.

Click here for additional coverage from Reuters.