 | |
| Type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1824 |
| Headquarters | London, England, UK |
| Products | life assurance Pensions Investments |
| Parent | Lloyds Banking Group |
| Website | www |
Clerical Medical is a British life assurance, pensions and investments company founded in 1824, [1] and a subsidiary of Lloyds Banking Group.
In 1824, Dr George Pinckard formed a committee of physicians and members of the clergy which published a pamphlet called 'Prospectus for the Establishment of a new Assurance Office with Improved Arrangements'. On 18 June 1824, the Medical, Clerical and General Life Assurance Society was formed. Pinckard was appointed as Chairman, the Marquis of Huntly as President, and Pinckard's brother Joseph as Resident Secretary and Actuary. A board of directors, which included eight eminent physicians was also appointed. The company's first policy was issued to Richard Pinckard, a nephew of Dr George Pinckard. [1]
In 1855, the company moved its headquarters to Lichfield House in St James's Square, London. [1]
Clerical Medical acquired the General Reversionary and Investment Company in 1913, and in 1920 a merger with The Employers’ Liability Assurance Corporation took place. In 1961 by Act of Parliament, Clerical Medical became a mutual office. [1]
In 1975, the company moved its head office from St James's Square, London to Bristol. [1]
Following the decision to demutualise the company in 1995, Clerical Medical merged with the Halifax in 1996, and was later absorbed into HBOS plc in 2001. [1]
HBOS was bought by Lloyds TSB Group in January 2009. The resulting company, Lloyds Banking Group, announced in April 2009 that the Clerical Medical brand would eventually be phased out in favour of its Scottish Widows subsidiary. [2]
In 2015, Lloyds Banking Group sold Clerical Medical International (CMI) to offshore life assurance company RL360°. [3] [4]
In the early 19th century, the following illnesses, lifestyles, injuries, and description of such conditions were recorded and raised the premium for prospective applicants to Clerical Medical, by which the company made profit when clients lived longer than expected. [5]
Halifax is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group.
The Abbey National Building Society was formed in 1944 by the merger of the Abbey Road and the National building societies.
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks. Lloyds Bank is the largest retail bank in Britain, and has an extensive network of branches and ATMs in England and Wales and offers 24-hour telephone and online banking services. As of 2012 it had 16 million personal customers and small business accounts.
Scottish Widows is a life insurance and pensions company located in Edinburgh, Scotland, and is a subsidiary of Lloyds Banking Group. Its product range includes life assurance and pensions. The company has been providing financial services to the UK market since 1815. The company sells products through independent financial advisers, direct to customers and through Lloyds Banking Group bank branches. The investment and asset management arm was sold in 2013 to Aberdeen Asset Management.
Hill Samuel is a wholly owned subsidiary of Lloyds Banking Group's Offshore Private Banking unit. It was formerly a leading British merchant bank and financial services firm before the takeover by TSB Group Plc. in 1987, which itself merged with Lloyds Bank to become Lloyds TSB in 1995.
The HBOS Group Reorganisation Act 2006 is a local Act of Parliament, passed by the Parliament of the United Kingdom in June 2006. The aim of the act was to provide HBOS plc, a banking and insurance group in the UK, the legal authority to reorganise its subsidiaries into a simplified structure. It came into effect on 17 September 2007.
AmBank Group comprises AMMB Holdings Berhad is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, Islamic banking, and life and general insurance.
ProAssurance Corporation, headquartered in Birmingham, Alabama, is a property and casualty company that sells professional liability insurance to doctors. The company was founded in 1976 as Mutual Assurance and was later renamed to Medical Assurance in 1997. The name "ProAssurance" was created in 2001 when Medical Assurance merged with Professionals Group. The company is currently the fourth largest medical professional liability insurance writer and has over $6 billion in assets.
James Robert Crosby is an English banker. He was Deputy Chairman of the Financial Services Authority from January 2004 until he resigned on 11 February 2006. He had previously been the chief executive of Halifax Bank until its merger with Bank of Scotland to form HBOS, of which he was Chief Executive until 2006. On 3 December 2012, Crosby was required to appear before Britain's Parliamentary Commission on Banking Standards.
Co-op Insurance is the trading name of CIS General Insurance, a general insurance company, which is part of the Co-operative Group, based in Manchester, United Kingdom. Co-op Insurance Services, an insurance intermediary incorporated in 2017, is a wholly owned subsidiary of CIS General Insurance.
St. James's Place plc, formerly St. James's Place Capital plc, is a British investment management company. The head office is in Cirencester, in Gloucestershire, and there are over twenty other offices in the United Kingdom. It is a combined adviser, fund manager and life insurance business. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It is the largest company of its kind in the UK; In 2021 it had £135 billion in funds under management.
HBOS plc was a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland plc, which operated the Bank of Scotland and Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division.
Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695.
The Bank of Wales was a commercial bank in Wales which was founded in 1971. The bank was taken over by the Bank of Scotland plc in 1986 and ceased trading under the Welsh brand in 2002. It is now a trading name used by Bank of Scotland plc, a subsidiary of Lloyds Banking Group.
The Royal London Mutual Insurance Society Limited, along with its subsidiaries, is the largest mutual insurer in the United Kingdom, with Group funds under management of over £150 billion. Group businesses provide around nine million policies and employ 4046 people, as of June 2019.
The Museum on the Mound is a museum in Edinburgh, Scotland, that focuses on money, coinage and economics. It is located in the Bank of Scotland Head Office building on The Mound. It has more than 50,000 visitors per year.
Insight Investment (Insight) is one of the largest global asset management companies, responsible for £683.0 billion of assets under management as of 30 September 2022, represented by the value of cash securities and other economic exposure managed for clients. It manages strategies which include fixed income, liability-driven investment (LDI), cash, absolute return, multi-asset, and equities. Insight is a subsidiary of The Bank of New York Mellon, a multinational financial services corporation.
Lloyds Bank International is a wholly owned subsidiary of Lloyds Bank Corporate Markets in the United Kingdom, which is in turn part of Lloyds Banking Group, one of the largest banking groups in Europe.
RL360 Insurance Company Limited (RL360°) is an international offshore savings, protection and investment provider, headquartered in the Isle of Man serving clients in Asia, Africa, the Middle East, Europe, the UK and Latin America. It is part of the International Financial Group Limited ("IFGL").
| Retail | |
|---|---|
| Commercial | |
| Consumer |
|
| Insurance |
|
| Former | |
| Legislation | |
| Other | |
