In March 1812, a number of eminent Scotsmen gathered in the well established Royal Exchange Coffee Rooms in Edinburgh, to consider setting up ‘a general fund for securing provisions to widows, sisters and other females’.
After many discussions, a first statement of principles enlarged the original remit, proposing ‘the formation of a General Society … the benefit of which may be extended to all parts of the United Kingdom’.
The Scottish Widows Fund Life Assurance Society - Scotland’s first mutual life office - opened for business in 1815.
In 1824 a policy of assurance was issued to the novelist Sir Walter Scott.
For almost 195 years, from the Industrial Revolution - through two world wars and into the era of global mass communication - we have grown and developed our mission to help our customers plan their long-term financial futures.
Now, as part of the Lloyds Banking Group, we continue to dedicate our efforts towards providing outstanding service and value for money to all our customers.
Some milestones in our development
Founded in 1815 in Edinburgh as Scotland’s first mutual life office
Demutualised and became part of the Lloyds TSB Marketing Group on 3 March 2000.
As of January 2009, became part of Lloyds Banking Group
Scottish Widows has one of the most recognised brands in the UK life, pensions and investments industry (Source: IPSOS Brand & Advertising Tracking Study, February 2009).
Scottish Widows Investment Partnership manages £82.65 billion of client funds (Source: SWIP - as at 30 June 2009).
Our product range includes ordinary long term insurance (such as life assurance, pensions, annuities and permanent health insurance) and savings and investment products.
We have a multi-sales channel capability including: Independent Financial Advisers, Direct Sales, Direct Marketing, Internet sales and sales through the Lloyds TSB branch network.
Scottish Widows employs just under 3,500 people (Source: Internal).
Scottish Widows Bank was launched in 1995 and currently offers a range of savings, loans and mortgage products.
