Lloyds Banking Group is selling off its Isle of Man-based offshore investment business - which has an estimated value of around £200 million.
According to the Financial Times, Scottish Widows - the bank's insurance arm - has put its offshore investment and tax planning division up for sale, which manages £5 billion of policyholders' funds.
It's in a move to focus the group's attention on UK retail and commercial banking business.
Recently, Scottish Widows announced plans to cut 130 jobs in the UK as part of a restructure of its pensions and investments department - we're not sure as yet how many of these will come from the Island.
Lloyds and Scottish Widows have declined any media comment.
It comes after Royal London sold its Island-based offshore investments business in a £134 million management-led buyout in 2013.
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