Scottish Widows confirms IOM position

Ten job losses have been confirmed at the Scottish Widows office in the Isle of Man, in a shake-up by parent company Lloyds Banking Group.

Twenty-four of the 160 jobs on the Island are affected by Lloyds' withdrawal from the offshore bond market.

But Scottish Widows says it will only have to shed ten staff.

In a statement the company says it's closing Clerical Medical International to new business from the end of March.