Lloyds TSB wil today announce the sale of Abbey Life, its troubled life insurance subsidiary, reports The Times.

Zurich Financial Services, the Anglo-Swiss insurance group which owns Allied Dunbar, is expected to acquire Abbey Life's 1,200 strong salesforce.

Zurich Financial Services

Lloyds TSB

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The BOE said that further sharp falls in asset prices are likely.

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Lloyds to sell off Abbey Life

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