25th Jul 2006 12:00
Lloyds TSB Group PLC25 July 2006 85/06 25 July 2006 LlOYDS TSB INSURANCE ACQUIRES NEW AND EXISTING GENERAL INSURANCE BUSINESS OFPEARL GROUP Lloyds TSB Group today announces that its subsidiary, Lloyds TSB Insurance, hasacquired the new and existing general insurance business of Pearl Group. Thegross assets of the business acquired total less than £60 million. The acquisition provides Lloyds TSB Insurance the rights to renew Pearl'sgeneral insurance portfolio. Lloyds TSB will also have the right to market arange of general insurance products under the Pearl brand across the UK. Phil Loney, Managing Director, Lloyds TSB Insurance said "The corporatepartnership market provides considerable opportunities within the generalinsurance arena and will support Lloyds TSB Insurance in the delivery ofprofitable sales growth through access to a wider customer base. With a strongtrack record in enhancing its manufacturing capabilities, Lloyds TSB Insuranceis also well placed to maximise efficiencies from the combined operations." For further information:- Investor Relations Michael Oliver +44 (0) 20 7356 2167 Director of Investor Relations Email: [email protected] Media Mary Walsh +44 (0) 20 7356 2121 Director of Corporate Relations Email: [email protected] FORWARD LOOKING STATEMENTS This announcement contains forward looking statements with respect to thebusiness, strategy and plans of the Lloyds TSB Group and its current goals andexpectations relating to its future financial condition and performance.Statements that are not historical facts, including statements about Lloyds TSBGroup's or management's beliefs and expectations, are forward lookingstatements. By their nature, forward looking statements involve risk anduncertainty because they relate to events and depend on circumstances that willoccur in the future. Lloyds TSB Group's actual future results may differmaterially from the results expressed or implied in these forward lookingstatements as a result of a variety of factors, including UK domestic and globaleconomic and business conditions, risks concerning borrower credit quality,market related risks such as interest rate risk and exchange rate risk in itsbanking businesses and equity risk in its insurance businesses, inherent risksregarding changing demographic developments, catastrophic weather and similarcontingencies outside Lloyds TSB Group's control, any adverse experience ininherent operational risks, any unexpected developments in regulation orregulatory actions, changes in customer preferences, competition, industryconsolidation, acquisitions and other factors. For more information on theseand other factors, please refer to Lloyds TSB Group's Annual Report on Form 20-Ffiled with the US Securities and Exchange Commission and to any subsequentreports furnished by Lloyds TSB Group to the US Securities and ExchangeCommission or to the London Stock Exchange. The forward looking statementscontained in this announcement are made as of the date hereof, and Lloyds TSBGroup undertakes no obligation to update any of its forward looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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