Scottish Widows is an
investment companyAn investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
located in
EdinburghEdinburgh is the capital city of Scotland. It is the second largest Scottish city, after Glasgow, and the seventh-most populous in the United Kingdom. The City of Edinburgh Council is one of Scotland's 32 local government council areas....
,
ScotlandScotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
, now a
subsidiaryA subsidiary, in business matters, is an entity that is controlled by a separate entity. The controlled entity is called a company, corporation, or limited liability company and in some cases can be a government or state-owned enterprise, and the controlling entity is called its parent...
of the
Lloyds Banking GroupLloyds Banking Group plc is a British-based financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at 1 September 2009, HM Treasury holds a 43.4% shareholding through UK Financial Investments Limited...
.
Scottish Widows Fund and Life Assurance Society opened in 1815 in what is now Chambers Street, as Scotland's first
mutualMutual insurance is a type of insurance where those protected by the insurance also have certain "ownership" rights in the organization. These "ownership" rights typically consist of the ability to elect the management of the organization and to participate in a distribution of any net assets or...
lifeLife insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner...
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 warsThe Napoleonic Wars were a series of conflicts declared against Napoleon's French Empire and changing sets of European allies by opposing coalitions that ran from 1803 to 1815. As a continuation of the wars sparked by the French Revolution of 1789, they revolutionized European armies and played...
.
Its most famous early customer was Sir Walter Scott who took out a policy in 1824.
Scottish Widows is an
investment companyAn investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
located in
EdinburghEdinburgh is the capital city of Scotland. It is the second largest Scottish city, after Glasgow, and the seventh-most populous in the United Kingdom. The City of Edinburgh Council is one of Scotland's 32 local government council areas....
,
ScotlandScotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
, now a
subsidiaryA subsidiary, in business matters, is an entity that is controlled by a separate entity. The controlled entity is called a company, corporation, or limited liability company and in some cases can be a government or state-owned enterprise, and the controlling entity is called its parent...
of the
Lloyds Banking GroupLloyds Banking Group plc is a British-based financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at 1 September 2009, HM Treasury holds a 43.4% shareholding through UK Financial Investments Limited...
.
Scottish Widows Fund and Life Assurance Society opened in 1815 in what is now Chambers Street, as Scotland's first
mutualMutual insurance is a type of insurance where those protected by the insurance also have certain "ownership" rights in the organization. These "ownership" rights typically consist of the ability to elect the management of the organization and to participate in a distribution of any net assets or...
lifeLife insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner...
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 warsThe Napoleonic Wars were a series of conflicts declared against Napoleon's French Empire and changing sets of European allies by opposing coalitions that ran from 1803 to 1815. As a continuation of the wars sparked by the French Revolution of 1789, they revolutionized European armies and played...
.
Its most famous early 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, Scott narrowly averted being declared bankrupt and died heavily in debt.
Scottish Widows & Orphans Fund moved to No 9 St Andrew Square in Edinburgh which had been built in 1846 by David Bryce for the Western Bank. It was the Head Office for many years until they replaced the building in 1962. "No. 9" was demolished to a huge outcry and a modern building designed by Basil Spence was put in its place. This continued to be the Head Office until the 1980s when a new building was erected on Dalkeith Road, opposite the Commonwealth Pool. This remained the main office until a new building was erected in Morrison Street, although the main address remains Dalkeith Road.
One of Scottish Widows main call centres is also based in Edinburgh, close by to the University of Edinburgh's
Pollock Halls of ResidencePollock Halls of Residence are the main halls of residence for the University of Edinburgh, located at the foot of Arthur's Seat in Edinburgh, Scotland...
on Dalkeith Road.
Scottish Widows
demutualisedDemutualization is the process by which a customer-owned mutual organization or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form...
and became part of the
Lloyds Banking GroupLloyds Banking Group plc is a British-based financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at 1 September 2009, HM Treasury holds a 43.4% shareholding through UK Financial Investments Limited...
on 3 March 2000.
Scottish Widows Investment Partnership is fully owned by Scottish Widows Plc and Lloyds Banking Group Plc. It is not only one on the largest and respected fund management houses in the UK but also in Europe. It manages broad range of assets covering global equities, real estate, corporate bonds and government bonds, to name but a few. At 31/12/2007 assets under management were in the region of 100 billion GBP.
The Scottish Widow
The Scottish Widow first appeared in a
televisionTelevision is a widely used telecommunication medium for transmitting and receiving moving images, either monochromatic or color, usually accompanied by sound. "Television" may also refer specifically to a television set, television programming or television transmission...
advertAdvertising is a form of communication used to influence individuals to purchase products or services or support political candidates or ideas. Frequently it communicates a message that includes the name of the product or service and how that product or service could potentially benefit the consumer...
directed by
David BaileyDavid Royston Bailey CBE is a celebrated English photographer.-Early life:Although born in Leytonstone, his family were forced to move to Heigham Road, East Ham when a World War II bomb destroyed the family home...
in 1986. There have been three 'Widows' to date:
Deborah MooreDeborah Moore is an English actress and the daughter of actor Roger Moore and Italian actress Luisa Mattioli.She made her debut on TV as a child in an episode of The Persuaders! in which her father co-starred alongside Tony Curtis, and early on in her career, she was often billed as "Deborah...
1986–1994,
Amanda LambAmanda Lamb is an English television presenter and former model.-Biography:Amanda Lamb was born in Portsmouth and now lives in London...
1994–2005 and Hayley Hunt 2005-present.
External links