Insurance & Investment Division
HBOS Financial Services includes the Clerical Medical and Halifax Financial Services, brands which between them invest almost £50 billion for nearly two million customers.
Halifax Financial Services market their products directly to customers through the two most productive salesforces in the UK financial services sector - personal financial advisers (PFAs) in Halifax and Bank of Scotland retail branch networks, and Bank of Scotland Investment Services (BoSIS), who advise high net worth and corporate clients. Clerical Medical deals with around 80% of the investment intermediary (eg independent financial advisers (IFAs)) market.
As such HBOS Financial Services is a major provider of life assurance, pension and investment products to UK retail customers and is the second largest provider in the UK (2004) in terms of premium income.
HBOS General Insurance has over 5 million customers and generates over £1.5bn in gross written premium.
HBOS General Insurance products, which include household, travel, repayment, health and pet insurance, are available via a number of distribution channels including the retail branch network, dedicated insurance sales centres and the internet. We also underwrite administer and manage claims for a number of third party clients including Sainsburys and MBNA.
Significant development over recent years has ensured that HBOS General Insurance is now a major player in the UK insurance market - we are the largest provider of repayment insurance ahead of names such as Aviva, RBS and Lloyds TSB, and in the top 5 providers of household insurance.
