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| Company Summary for Scottish Widows PLC |
HQ Address
69 Morrison Street
253
Edinburgh
EH3 8YF |
Telephone Number
Fax Number
Website
Email
Number Of Employees
Number Of UK Locations |
0131 6556000
NA
www.scottishwidows.co.uk
NA
3588
1 |
| Long-term insurance business in the UK. Founded in 1815 as Scotland's first mutual life insurer, Scottish Widows provides life insurance and pension plans while its Scottish Widows Bank branch offers savings accounts, credit cards, and mortgage loans. Its Scottish Widows Investment Partnership segment manages over £80 billion in client funds under management. The company became a member of the Lloyds TSB Group in 2000. |
| Activities in Sector(s) |
| Insurance & Assurance : |
Life Assurance |
| Turnover in the Insurance and Assurance sector grown by 50% in the past year, rising to £206.7bn, with profits remaining stable at around £10.4m. Employee numbers have also remained relatively stable, dropping by only 1% to reach approximately 570,000 people over the same time period, indicating high productivity as decreased staff numbers have made a significant positive impact on turnover in the sector. |
|
| Presences in Region(s) |
| Scotland(1) |
| Key Financial Data |
Latest |
Year -1 |
Year -2 |
Year -3 |
Year -4 |
| Turnover |
| UK Turnover |
| Overseas Turnover |
| Cost of Sales |
| Operating Profit |
| Profit Margin |
| Remuneration |
| Land & Building |
| Fixtures & Fittings |
| Plant & Vehicles |
| Stock & W.I.P |
| Short Term Loans & Overdrafts |
| Hire Purch. & Leas. (short t.) |
| Hire Purchase & Leas. (long t.) |
|
| £10,877m |
| £10,877m |
| NA |
| NA |
| £-1,370.0m |
| 7.00 |
| £275.5m |
| NA |
| NA |
| NA |
| NA |
| £561.0m |
| NA |
| NA |
|
| £3,670.0m |
| £3,670.0m |
| NA |
| NA |
| £-7,315.0m |
| 20.00 |
| £221.8m |
| £4,370.0m |
| £30.0m |
| NA |
| NA |
| £753.0m |
| NA |
| NA |
|
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| £263.0m |
| NA |
| NA |
|
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| £66.0m |
| NA |
| NA |
|
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| NA |
| £82.0m |
| NA |
| NA |
|
| Key Employee Data |
Latest |
Year -1 |
Year -2 |
Year -3 |
Year -4 |
| Number of Employees |
| Wages & Salaries |
| Pension Costs |
| Directors' Remuneration |
| Highest Paid Director |
| Average Remuneration per Employee |
| Turnover per Employee |
| Profit per Employee |
|
| 3588.00 |
| NA |
| NA |
| NA |
| NA |
| 76 |
| 3,031 |
| -381 |
|
| 3936.00 |
| £179.3m |
| NA |
| NA |
| NA |
| 56 |
| 932 |
| -1,858 |
|
| NA |
| NA |
| NA |
| £1.8m |
| NA |
| NA |
| NA |
| NA |
|
| NA |
| NA |
| NA |
| £1.9m |
| NA |
| NA |
| NA |
| NA |
|
| NA |
| NA |
| NA |
| £1.4m |
| NA |
| NA |
| NA |
| NA |
|
| Company News |
| 27 Nov 2006 |
£6.4b European Embedded Value - £254m New Business Profits |
| |
Scottish Widows Plc, has an embedded value of £6.4b under European embedded value (EEV) accounting methods - £908m more than was estimated under old methods. The insurance division of Lloyds TSB, has recorded new business pre-tax profits under EEV of £254m. |
| 10 Oct 2006 |
Further Cost-Cutting - Consolidating Office Processing - 200 Job Losses - Further Jobs at Risk |
| |
Scottish Widows Plc, a long term insurance business, based in Edinburgh, Scotland, is embarking upon a cost-cutting programme, which is to lead to 200 job losses within its customer services division. The reductions are being introduced to consolidate office processing at its Chatham operation, which currently employs 450 staff. All customer-facing services will operate from Edinburgh, Scotland, resulting in 200 job losses, including 75 being considered for offshoring to India. A further 175 jobs in the Lloyds TSB book back-office will be redeployed to LTSB Group Operations by the end of 2006. Christian Torkington is the Managing Director of Operations at Scottish Widows Plc. |
| 29 Sep 2006 |
Outsourcing Business Overseas - Headcount Reduction - 375 Job Losses |
| |
Scottish Widows, an insurance group, based in Kent, South East, is expecting to reduce headcount by up to 375 jobs. The company is to outsource administration work to India. Approximately 200 staff will be affected in Chatham, South East, by the end of 2006. A further 175 staff are being forced to relocate to other parts of the business. |
| 21 Dec 2007 |
Short Term Loans & Overdrafts is £561.0m in the current year, a fall from £753.0m last year and representing a growth of 584.1% over the past five years. |
|
| Genuine Testimonials: |
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