SCOTTISH WIDOWS LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. SCOTTISH WIDOWS LIMITED 2015-12-31 → present
2. CLERICAL MEDICAL INVESTMENT GROUP LIMITED 1996-05-02 → 2015-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In addition to the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.”

Group structure

1. SCOTTISH WIDOWS LIMITED · parent
   1. Clerical Medical Non Sterling Property
   2. Dalkeith Corporation LLC
   3. France Industrial Premises Holding Company
   4. General Reversionary and Investment Company 80%
   5. Halifax Life Limited
   6. Otium Lifetime Funding No. 1 Limited
   7. Scottish Widows Administration Services Limited
   8. Scottish Widows Administration Services (Nominees) Limited
   9. Scottish Widows Auto Enrolment Services Limited
   10. Scottish Widows Europe S.A.
   11. Scottish Widows Fund and Life Assurance Society
   12. Scottish Widows Industrial Properties Europe S.A.
   13. Scottish Widows Trustees Limited
   14. Scottish Widows Unit Trust Managers Limited
   15. St Andrew's Life Assurance Limited
   16. Saint Michel Holding Company No 1
   17. Saint Michel Investment Property
   18. Saint Witz II Holding Company No 1
   19. Saint Witz II Investment Property
   20. Thistle Investments (AMC) Limited

Significant events

• “Group acquired a full acquisition of Schroeders Personal Wealth (SPW), previously a joint venture with Schroders Group, becoming a fully owned subsidiary and now re-branding to 'Lloyds Wealth'.”
• “Group in Ready-Made Investments, with c.84,000 accounts opened to date, c.40 per cent of customers under the age of 30.”
• “Growth of c.15 per cent in open book AuA to £222 billion (31 December 2024: £201 billion) and AuA net flows of £7.9 billion, with a significant contribution from the workplace pension business.”
• “Customer innovation increased by £5.4 billion (2025 driven by the launch of Scottish Widows Lifetime Investment bringing overall investment total to £3.5 billion, with an original target net in-”
• “Industry leading Trustpilot scores of 4.5 stars for Scottish Widows and 4.7 for Lloyds Insurance, driven by increased investment in automation, AI adoption and training.”
• “More than 1.75 million digitally registered Scottish Widows customers, with the core app for workplace pension customers growing by more than 75 per cent year-on-year to over 750,000 users.”
• “Increased partnerships product offering with relaunch of the Group's motor insurance product through AXA and the recent launch of the Health Partnership with Vitality, helping to complement the insurance ecosystem in a low risk, low capital intensity manner.”
• “Capitalised over c.15 per cent of new home insurance policy market, leveraging the Group's trusted brands and digitising customer journeys with some claims business settled in as little as five minutes.”
• “Increased Protection market share (7.8 per cent (30 September 2024: 6.8 per cent)) following successful launch of refreshed advisor proposition in 2024.”
• “Markets where funds that have a focus on investment in companies that are either adapting their business to reduce carbon emissions or developing solutions to address climate change.”
• “On 13 March 2024, the Group entered into a business transfer agreement with Rothesay Life plc for the sale of the Group's in-force bulk annuity business and to pursue the transfer of associated business assets and assumed liabilities”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

2

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +2.5%

  £2,639,000,000 → £2,706,000,000

• Cash

  -11.3%

  £53,000,000 → £47,000,000

• Net assets

  -326.7%

  £86,000,000 → -£195,000,000

• Employees

  +3.4%

  7,250 → 7,500

• Profit before tax

  +269.8%

  -£116,000,000 → £197,000,000

• Wages

  0%

  £370,000,000 → £370,000,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers