Clerical Medical brand abandoned with merger

Lloyds is to abandon the Clerical Medical brand after merging the company with Scottish Widows, resulting in the loss of 300 jobs.

The positions will be cut in the coming months as the two teams are brought together.

Lloyds said that existing policyholders would not be unaffected. It chose the Scottish Widow brand over Clerical Medical following feedback from key intermediary partners.

Once the teams are combined, pensions will carry the Scottish Widows brand, while onshore and offshore investment products will remain Clerical Medical branded, but will slowly be re-branded to the Scottish Widows name.