Abbey Life

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Abbey Life Assurance Company Limited
Limited company
Industry Life assurance
Founded 1961
Headquarters Bournemouth, UK
Key people
David Woolett, Director
Owner Phoenix Group
Website www.abbeylife.co.uk

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 in 2000.

Abbey Life was formerly a public company listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.

History[edit]

The Company was founded by Mark Weinberg in 1961 as the Abbey Life Assurance Company.[1] ITT Corporation bought a half interest in the Company in 1964 and in 1970 bought the rest.[1] It was first listed on the London Stock Exchange in 1986.[1] In 1988, the then Lloyds Bank acquired a majority stake in the business which became known as Lloyds Abbey Life.[1] The Company became wholly owned by Lloyds TSB in 1996[1] and absorbed Hill Samuel Life Assurance Company in 1998.[1] It lost its sales force in 2000 when it closed to new business.[1]

In 2007, Lloyds Banking Group sold the Company to Deutsche Bank.[2]

References[edit]

  1. ^ a b c d e f g Unisys and Abbey Life strike major outsourcing deal Businesswire, 18 January 2001
  2. ^ Buoyant Lloyds TSB offloads insurer Abbey Life The Guardian, 1 August 2007


External links[edit]