Overview

The Insurance division offers life assurance, pensions, investment products and general insurance and operates through three main businesses: Life, Pensions and Investments UK; Life, Pensions and Investments Europe; and General Insurance.

The UK Life, Pensions and Investment business is the leading bancassurance provider in the UK and has one of the largest intermediary sales forces in the industry. The business includes Scottish Widows which, for a number of years, has been a subsidiary of the Lloyds TSB Group and the provider of long term savings and investment products distributed through all Lloyds TSB channels. Following the acquisition of HBOS, our Life, Pensions and Investments business also includes business written through the intermediary and bancassurance channels under the Clerical Medical and Halifax brands respectively.

The European Life, Pensions and Investments business distributes products primarily in the German market under the Heidelberger Leben and Clerical Medical brands.

The combined General Insurance business is a leading distributor of home insurance in the UK, with products distributed through the branch network, direct channels and strategic corporate partners. The business is one of the largest underwriters of personal insurance business in the UK and also operates significant brokerage operations for personal and commercial insurances. It operates primarily under the Lloyds TSB, Halifax and Bank of Scotland brands.