BRITAIN'S largest friendly society, Dorset-based Liverpool Victoria will rebrand to LV= on March 21.

The corporate makeover has been carried out by London design consultancy The Partners.

It follows a major restructuring at the friendly society, which is based at Frizzell House on the Bournemouth/Poole boundary.

The society was founded in 1843 as a way for the poorest people in society to pool their funds so they could bury their families with dignity.

Since then, it has grown into a major financial services provider with 2.5 million members and customers and more than £8 billion of funds under management.

LV= employs 1,800 workers (around 1,500 locally). It operates investment, protection, banking and general insurance businesses, insuring more than 650,000 cars and 440,000 homes across the UK.

But it has no shareholders - like a building society it is a mutual organisation owned by its members.

Group chief executive Mike Rogers said: "We are very proud of our heritage and our long history in helping people find freedom from financial worry.

"Preserving these values is integral to our future whilst at the same time we must also make sure that our business is fit for today's competitive challenges.

"Research showed that a stronger, more vibrant brand identity would give our business more impact and more relevance to today's consumers.

"The new brand identity is a natural evolution of the Liverpool Victoria name and reflects our aspiration to combine traditional mutual values with market leading performance."

The friendly society's legal name remains Liverpool Victoria Friendly Society Ltd but LV= is the new brand that will be introduced over time for all marketing, sales and service communications.

Factfile

1843: Liverpool Independent Legal Victoria Burial Society was founded by William Fenton, a 36-year-old customs officer.

1844: Society accounts suggest it was worth £57.

1862: Society changes name to Liverpool Victoria Legal Friendly Society.

1906: Society has almost three million members.

1916: Adopts Liverpool Victoria Friendly Society name.

1950: Assets grow to £100 million.

1970s: Assets rise to £520 million.

1980s: Assets pass £1 billion.

1996: Acquires Frizzell Group and moves HQ from London to Bournemouth.

1998: Buys Landmark Insurance.

2000: Acquires Permanent Insurance.

2001: Assets grow to £5.2 billion, acquires RNPFN.

2002: Acquires Bishopscourt Financial Holdings.

2006: Appoints Mike Rogers from Barclays as group chief executive, restructures, acquires ABC Insurance.

2007: Announces intent-ion to acquire Britannia Rescue from CSMA.