Scottish
Widows - (en)
Scottish Widows is an
investment company located in Edinburgh, Scotland, now a subsidiary of
the Lloyds TSB Group.
Scottish Widows Fund and Life Assurance Society opened in 1815 in what
is now Chambers Street, as Scotland's first mutual life office. The
formation of the society had been discussed from March 1812 with the
purpose of providing for widows, sisters and other female relatives of
fund holders so that they would not be plunged into poverty on the
death of the fund holder during and after Napoleonic wars.
Founded in 1815 in Edinburgh, its most famous early customer was Sir
Walter Scott who took out a policy in 1824. Scottish Widows used this
fact in advertising to promote their products during the 1990s.
However, they did not mention that the following year, Sir Walter
Scott narrowly averted being declared bankrupt and died heavily in
debt.
Scottish Widows demutualised and became part of the Lloyds TSB group
on 3 March 2000.
