Insurance
The general insurance, life assurance and pensions sector in Scotland dates back to the early eighteenth century. At that time the increase in international trade led to a requirement for marine insurance for many Scottish export and import companies.
Key facts
- Four major UK insurance companies are headquartered in Scotland: Standard Life, Scottish Widows, AEGON UK and Bright Grey (a division of Royal London).
- Scotland is the operating base for several other major insurance institutions with diverse business profiles, such as Norwich Union, Prudential and Resolution.
- The sector accounts for 23 per cent of financial services employment in Scotland.
- Scottish Financial Enterprise’s (SFE) insurance member companies manage a total of over £726 billion between them internationally.