Liverpool Victoria Friendly Society, owner of Frizzell Insurance, is understood to have approached a number of agencies to handle work on the combined account worth up to 5m.
The friendly society bought Frizzell earlier this year for 188m and the company is now planning to centralise the advertising account. BMP DDB holds the 4m Frizzell business while Liverpool Victoria does not have an agency – its most recent agency was Duckworth Finn Grubb Waters, which worked on the account last year.
The company is understood to be renaming the combined business – the name LV Frizzell has been mooted – which will be relaunched next year. It is thought to be drawing up a shortlist of agencies.
Frizzell brokers household and motor cover for about 600,000 policy holders, while Liverpool Victoria specialises in traditional insurance, pensions and savings policies. LV has a 1,500-strong salesforce and more than 1 million clients. Most of LV’s savers are from the lower income bracket but the society plans to use its acquisition to move its market further into higher income groups. LV manages more than 3.5bn of investors’ funds.
The company denied it was looking for an agency.