Halifax companies apply to transfer business to Lloyds Banking Group

Two Halifax companies that are part of the Lloyds banking group have brought petitions for transfer of their life and non-life insurance businesses to two London-based based companies within the Lloyds Banking Group.

The companies, Halifax Insurance Ireland Ltd and Halifax Assurance Ireland Ltd, both with registered offices at Shannon, Co Clare, employ 220 people. They said they anticipate most employees associated with the carrying out of policy administration services will be transferred to an outsourcing company, Wipro Outsourcing Services Ireland Ltd.

The companies said a small number of employees will remain in HIIL and HAIL until completion of the transfer of policies to St Andrews Insurance plc and St Andrews Life Assurance plc, after which they will be made redundant. A further small number of employees will be made redundant on transfer of the administration of the business.