 | |
| Company type | Limited company |
|---|---|
| Industry | Life assurance |
| Founded | 1961 |
| Headquarters | Bournemouth, UK |
Key people | David Woollett, Director |
| Owner | Phoenix Group |
| Website | www |
Abbey Life Assurance Company Limited is a life assurance business based in London also with an office in Bournemouth. The company has been closed to new business since 2000. Abbey Life was formerly a public company listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. [1]
The Company was founded by Mark Weinberg in 1961 as the Abbey Life Assurance Company. [2] ITT Corporation bought a half interest in the Company in 1964 and in 1970 bought the rest. [2] It was first listed on the London Stock Exchange in 1986. [2] In 1988, the then Lloyds Bank acquired a majority stake in the business which became known as Lloyds Abbey Life. [2] The Company became wholly owned by Lloyds TSB in 1996 [2] and absorbed Hill Samuel Life Assurance Company in 1998. [2] It lost its sales force in 2000 when it closed to new business. [2]
In 2007, Lloyds Banking Group sold the Company to Deutsche Bank. [3]
On 30 December 2016 Abbey Life was acquired by the Phoenix Group. [4]
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