Scottish Widows

From Wikipedia, the free encyclopedia

Scottish Widows Group Ltd
Type of Company	Subsidiary
Founded	1815
Headquarters	Edinburgh, Scotland
Key people	Gavin Gemmel, Chairman Archie Kane, Chief Executive
Industry	Financial Services
Products	Life assurance Pensions Banking
Employees	4,000 (2005)
Website	www.scottishwidows.co.uk

Scottish Widows is an investment company located in Edinburgh, Scotland, now a subsidiary of the Lloyds TSB Group.

Scottish Widows Fund and Life Assurance Society opened in 1815 in what is now Chambers Street, as Scotland's first mutual life office. The formation of the society had been discussed from March 1812 with the purpose of providing for widows, sisters and other female relatives of fund holders so that they would not be plunged into poverty on the death of the fund holder during and after Napoleonic wars.

Founded in 1815 in Edinburgh, its most famous customer was Sir Walter Scott who took out a policy in 1824. Scottish Widows used this fact in advertising to promote their products during the 1990s. However, they did not mention that the following year, Sir Walter Scott narrowly averted being declared bankrupt and died heavily in debt.

Scottish Widows demutualised and became part of the Lloyds TSB group on 3 March 2000.

[edit] The Scottish Widow

One of the most recognisable brand icons in Britain, the Scottish Widow first appeared in a television advert directed by David Bailey in 1986. There have been three 'Widows' to date: Deborah Moore 1986–1994, Amanda Lamb 1994–2005 and Hayley Hunt 2005-present.