Scottish Widows Limited
Registered name: SCOTTISH WIDOWS LIMITED
Part of Lloyds Banking Group PLC groupScottish Widows Limited made £2.7bn revenue and a £65m loss in the year to 31 Dec 2025.
Scottish Widows Limited’s revenue grew 3% to £2.7bn in the year to 31 Dec 2025, with a loss of £65m. The company is classified under “life insurance” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 30 yrs · since 1996
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £2.5bn | £2.6bn | £2.7bn |
| Cost of sales | −£2.1bn | −£2.2bn | £1.9bn |
| Operating profit | — | −£116m | £197m |
| Profit before tax | −£180m | −£116m | £197m |
| Profit after tax | −£85m | −£159m | −£65m |
| Profit (best available) | −£85m | −£159m | −£65m |
| Employees (average) | — | — | — |
| Ratios | |||
| Profit margin | −3.5% | −6% | −2.4% |
| Growth (year on year) | |||
| Revenue growth | — | ▲7.6% | ▲2.5% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Apr 2025 | Accounts · bulk data Apr 2025 | Accounts · bulk data Apr 2026 |
How the business works
- Profit margin
- −2.4%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Lloyds Banking Group PLCultimate parent75–100%
- Scottish Widows Group Limited75–100%
- Scottish Widows Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (6)
- General Reversionary and Investment Company(The)Figures not disclosed
- Halifax Life LimitedFigures not disclosed
- Scottish Widows Administration Services LimitedFigures not disclosed
- Scottish Widows Trustees LimitedFigures not disclosed
- Scottish Widows Unit Trust Managers LimitedFigures not disclosed
- Scottish Widows' Fund and Life Assurance SocietyFigures not disclosed
Sister companies (6)
- Lloyds Wealth Management Holdings LimitedRev. £229m · Profit £54m
- Embark Group LimitedFigures not disclosed
- Hbos Investment Fund Managers LimitedFigures not disclosed
- Lloyds Bank General Insurance Holdings LimitedFigures not disclosed
- Lloyds Bank General Insurance LimitedFigures not disclosed
- Scottish Widows Financial Services HoldingsFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit −£65m), from the Companies House accounts bulk data published Apr 2026. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.