ABBEY LIFE ASSURANCE Abbey Life Assurance Company Limited was founded in 1961 in London, then relocated to Bournemouth in 1976. Rapid growth continued in the 1980's & in late 1988 a merger was agreed whereby Lloyds Bank became the major shareholder, and in 1996 the company became a wholly owned subsidiary of Lloyds TSB Group. Abbey Life had purchased Target Life & Hill Samuel Life. However, in 2000 Lloyds Abbey Life closed to new business and their direct salesforce was sold to Allied Dunbar part of the Zurich group. The Financial Services Authority reportedly fined Abbey Life Insurance £1 million in 2002 for mortgage endowment mis-selling and related deficiencies in its systems and functions. Abbey Life was never been fully integrated into Scottish Widows, Lloyds TSB life assurance company, and operated largely as a stand-alone entity. In late 2007, Deutsche Bank announced that it completed its acquisition of Abbey Life Assurance Company Ltd for around £1bn from Lloyds TSB Group on behalf of its 1.5m customers. In 2008 Abbey Life no longer market their products but their plans continue to help meet the needs and circumstances of its existing policyholders only & you can still make certain changes to an existing plan. They recommend that you talk to your financial adviser before making any changes where applicable.   Abbey Life product range included Life cover, endowments, decreasing (mortgage protection) or level term assurance, Life with Critical Illness and Income Protection.   Looking in 2008 to compare old Abbey Life Assurance products against other Uk Insurers > Need a Competitive Life or Critical Illness Insurance Quote ?