Financial information
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Financial Strength Ratings
Independent ratings companies assess the financial strength of life companies through in-depth detailed analysis.
They are independent financial analysts who examine the financial strength of institutions. Scottish Widows Limited (formerly Clerical Medical Investment Group Limited), which is part of Scottish Widows Group, has been allocated the financial strength ratings below.
| Company | Moody's | FITCH | AKG |
|---|---|---|---|
Scottish Widows Limited |
A2 | A+ | A Superior |
Source: Moody's, Fitch and AKG. All ratings correct at December 2022.
Provider Financial Strength Assessment Report
Scottish Widows latest AKG Report (PDF, 7MB)
Investor relations
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View the annual financial results and interim (half year) results for Lloyds Banking Group (including Scottish Widows)
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Prior to the 2015 LBGI Scheme (PDF, 804KB), Scottish Widows plc (now renamed SW Funding plc) was the principal trading entity in the Scottish Widows Group of companies, and so its accounts were published for customers’ information. As a result of the 2015 LBGI Scheme, Scottish Widows Limited (formerly Clerical Medical Investment Group Limited) has become the principal trading entity and, in future, its statutory accounts will be published on this page.
Annual Accounts 2022 (PDF, 631KB)
Annual Accounts 2021 (PDF, 595KB)
Annual Accounts 2020 (PDF, 687KB)
Annual Accounts 2019 (PDF, 802KB)
Annual Accounts 2018 (PDF, 2MB)
Annual Accounts 2017 (PDF, 2MB)
Annual Accounts 2016 (PDF, 2MB)
Because the company is a wholly owned subsidiary of the Lloyds Banking Group, a more detailed commentary regarding business performance is given in the financial statements of Lloyds Banking Group plc.
The full Lloyds Banking Group Results are published on the Lloyds Banking Group Investor Relations Lloyds Banking Group Investor Relations website
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The Solvency and Financial Condition Report submitted to the Prudential Regulation Authority is given below:
2022 Scottish Widows Group Solvency and Financial Condition Report (PDF, 2MB)
2021 Scottish Widows Group Solvency and Financial Condition Report (PDF, 2MB)
2020 Scottish Widows Group Solvency and Financial Condition Report (PDF, 1MB)
2019 Scottish Widows Group Solvency and Financial Condition Report (PDF, 4MB)
2018 Scottish Widows Group Solvency and Financial Condition Report (PDF, 1MB)
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With-profits policies
Principles and Practices of Financial Management (PPFMs) are documents that set out how companies manage their with-profits funds and the with-profits parts of with-profits policies.
Financial Conduct Authority (FCA) regulations require all companies that have a with-profits fund to produce such a document. We use our PPFM as part of the overall governance of our with-profits business.
Our PPFM applies to with-profits policies that were either:
- bought after 3 March 2000 through a Lloyds TSB branch or a Lloyds TSB financial adviser
- bought at any time in any other way, such as through a financial adviser or directly from Scottish Widows.
A summary of the PPFM
The PPFM is a fairly lengthy technical document. We have summarised it to help you better understand how we manage our with-profits business. This summary is called your guide to with-profits
The Scottish Widows PPFM in more detailYou can find out more about the Scottish Widows PPFM here