Now that the takeover of HBOS by Lloyds TSB is virtually a done deal, what will happen to these two famous and long established Life Assurers?
Clerical Medical gave up their mutuality to HBOS some years ago, at roughly the same time Scottish Widows was acquired by Lloyds TSB during the period when Banks were gobbling up life companies, at a rate of knots, which of course has now gone full circle, and as Banks need to raise cash from selling subsidiaries perhaps Mr Cowdery of Resolution Life may wish to make an offer. Pure speculation we know but watch this space.