Banking group Lloyds TSB has joined Bank of Scotland as a participant in the debt finance of FirstAssist, the insurance and assistance company that was formed in April 2003 in a management buy-out from Royal & SunAlliance.
FirstAssist is already backed by Barclays Private Equity. It also commands insurance capacity from Munich Re, one of the largest reinsurance companies in the world.
Tim Ablett, the CEO of FirstAssist said: "FirstAssist has had a strong entry into the healthcare and wellbeing market and the financial support from Lloyds TSB shows a great deal of confidence in the future success of the business.
"This is an exciting development that further secures our position as a leading force in the provision of proactive wellbeing solutions."
The company has already achieved an early business success, having been appointed as health partner to the UK's largest retail bank HBOS, which has a customer base of about 22 million consumers.
