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Lloyds TSB acquires GI business of Pearl Group

Lloyds TSB Insurance has acquired the new and existing general insurance business of closed life fund group Pearl Group.

The gross assets of the business acquired total less than £60m and will provide Lloyds TSB with the right to market a range of GI products under the Pearl brand across the UK.

Lloyds TSB Insurance managing director Phil Loney says: “‘The corporate
partnership market provides considerable opportunities within the general
insurance arena and will support Lloyds TSB Insurance in the delivery of
profitable sales growth through access to a wider customer base. With a strong
track record in enhancing its manufacturing capabilities, Lloyds TSB Insurance
is also well placed to maximise efficiencies from the combined operations.”

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