Financial information

Every time you recommend a provider to your clients you put your reputation on the line. That’s why it’s important you select a provider who gives you market-leading products and services and who understands and supports your business for the long-term.

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 security of institutions based on their credit ratings and assets. 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	AA- Negative	B+ Very Strong

Source: Moody's, Fitch and AKG. All ratings correct at April 2021.

Company profile and financial strength reports

Scottish Widows latest AKG Report

For more than 200 years we’ve helped people protect and plan for their future

Investor relations

Financial results expandable section

View the annual financial results and interim (half year) results for Lloyds Banking Group (including Scottish Widows)
Annual Accounts expandable section

Prior to the 2015 LBGI Scheme (PDF), 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 2018 (PDF)

Annual Accounts 2017 (PDF)

Annual Accounts 2016 (PDF)

Annual Accounts 2015 (PDF)

Annual Accounts 2014 (PDF)

Annual Accounts 2013 (PDF)

Annual Accounts 2012 (PDF)

Annual Accounts 2011 (PDF)

Annual Accounts 2010 (PDF)

Annual Accounts 2009 (PDF)

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
Solvency II returns expandable section

Annual returns for Scottish Widows Group companies.

The annual Solvency and Financial Condition Report submitted to the Prudential Regulation Authority is given below:

2016 Scottish Widows Group Solvency and Financial Condition Report (PDF)
FCA returns expandable section
The Annual Returns submitted to our regulators are given below:

2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
Our principles and practices expandable section
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.
If you bought a with-profits policy on or before 3 March 2000 through a Lloyds TSB branch or a Lloyds TSB financial adviser, you should have received a letter in 2004 explaining how your with-profits policy would operate in the future. You can view an example of the with-profits letter here (PDF)

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 detail

You can find out more about the Scottish Widows PPFM here