Articles - Scottish Widows on the market again?


 The London Evening Standard has reported that Edmund Truell, founder of private equity company Duke Street, has made a multi-billion bid for Lloyds Bank-owned Scottish Widows. He is bringing a new bid vehicle, Tungsten, to the stock market and could also be interested in Direct Line, according to the Financial Times.
 The sale of Scottish Widows was ruled out last year in a strategic review by Lloyds chief executive Antonio Horta-Osorio but Lloyd's has received a number of other approaches recently.

 Insurance Newslink comments: the sale of Scottish Widows has been on and off for a number of years. Regulatory issues such as the introduction of the Retail Distribution Review(RDR) in the UK and Solvency II at the European level will no doubt be a consideration for both the buyer and seller.

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