Clerical Medical and Scottish Widows are sending letters to clients advising that they intend to reduce the number of life insurance companies within the group from eight to one – Clerical Medical Investment Group Ltd, which will then be re-named Scottish Widows Ltd.
The companies effected will be:
Scottish Widows plc
Pensions Management (SWF) Ltd
Scottish Widows Annuities Ltd
Scottish Widows Unit Trust Funds Ltd
Halifax Life Ltd
Clerical Medical Managed Funds Ltd
St Andrews Life Assurance plc
This is for information only and no action is required by Clerical or Scottish Widows policyholders. However, a legal change of name requires approval by the High Court which means the change is not likely to happen before the end of the year.
It is important to emphasise there will be no changes to the features of affected policies, including premium collection and payment dates. The change is being made purely to make the Clerical Medical/Scottish Widows business more efficient.
More information can be found at: www.clericalmedical.co.uk/Transfer2015
If you have any queries, please contact us >>