30th July ‘08 - Critical Illness Cover Company to Remain with Lloyds TSB
Posted on Friday, August 01st, 2008 at 3:55pmThe future of Scottish Widows, which offers critical illness cover to people in the UK, remains unclear after its parent company, Lloyds TSB, failed to confirm its long-term interest in the group.
After being questioned by The Herald whether it intended to eventually sell the critical illness cover and life insurance company, Lloyds only “emphasised the benefits of selling insurance products via its bank”, according to the newspaper.
However, Eric Daniels, the Lloyds TSB’s chief executive, also said, “There is a need for pension products and life insurance products and Scottish Widows helps to sell those products. It is a great partnership.”
Speculations have mounted about the future of Scottish Widows, one the UK’s largest critical illness cover companies, after rumours started circulating that Lloyds TSB were planning to use it as part of swap deal to obtain Dresdner Bank.
Despite all the uncertainty and talk of a UK economic slowdown, Scottish Widows continues to post positive financial results.
