Abbey Life
Script error: No such module "about". Script error: No such module "Infobox".Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". 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 since 2000. Abbey Life was formerly a public company listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.[1]
History
The Company was founded by Mark Weinberg in 1961 as the Abbey Life Assurance Company.[2] ITT Corporation bought a half interest in the Company in 1964 and in 1970 bought the rest.[2] It was first listed on the London Stock Exchange in 1986.[2] In 1988, the then Lloyds Bank acquired a majority stake in the business which became known as Lloyds Abbey Life.[2] The Company became wholly owned by Lloyds TSB in 1996[2] and absorbed Hill Samuel Life Assurance Company in 1998.[2] It lost its sales force in 2000 when it closed to new business.[2]
In 2007, Lloyds Banking Group sold the Company to Deutsche Bank.[3]
On 30 December 2016 Abbey Life was acquired by the Phoenix Group.[4]
References
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External links
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- Pages with script errors
- Phoenix Group
- Life insurance companies of the United Kingdom
- ITT Inc.
- Financial services companies established in 1961
- British companies established in 1961
- 1996 mergers and acquisitions
- 2007 mergers and acquisitions
- 2016 mergers and acquisitions
- Companies formerly listed on the London Stock Exchange
- 1970 mergers and acquisitions