LONDON LIFE INSURANCE
Based now in Peterborough, London Life was founded in 1806 and was one of the worlds oldest mutual insurers. Over the next 200 years, London Life evolved to become a popular provider of Uk life insurance and financial services provision.
In 1990, they were taken over by Australian financial giant AMP, then reportedly the largest takeover of a British financial institution by an overseas organisation. In 2003, Amp Pearl, Amp NPI and Amp London Life were de-merged from AMP to become part of a new UK company called HHG.
In 2004, the HHG board accepted an offer for Pearl, NPI and London Life. In 2005, the 3 companies became part of the newly formed Pearl Group Limited. Pearl's primary focus is to no longer seek new business but look after over £10 billion of assets in closed life funds on behalf of its 2 million policyholders.
In 2008 Pearl Group Ltd acquired Resolution Phoenix Life Group which includes administration of plans from Scottish Provident, Scottish Mutual, Phoenix, Crusader Insurance, Royal Sun Alliance, Swiss Life, Britannic Assurance, Cornhill & Alba Life formally Britannia life. In 2009, the proposed merger of Friend Provident Uk & Resolution was finally agreed subject to regulatory agreement.
Once LondonLife Insurance was a player in the mortgage protection market place but then slowly disappeared from selling protection as the mortgage market slowly moved from endowment to repayment mortgages.
London Life is now only open to increases to existing contracts from existing clients, as they closed to new business in 1995. The old London Life UK products included personal protection cover, mortgage protection & term assurance.
Looking in 2019 to compare old London Life Assurance products against other Uk Insurers
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