Scottish Widows head of media relations Paula Sutherland said the group hoped to make a decision by the end of next week.
She added that it would consider non-winning agencies for special
projects, which could include the promotion of products around the end of the tax year.
Based in Edinburgh, Scottish Widows is the financial services arm of Lloyds TSB, selling life insurance, pensions and investments. Last week it announced a pre-tax profit of £908m for 2005.
Although Lansons' brief does not cover business fund management product Scottish Widows Investment Partnership, under-performance at that unit has been an issue for the wider group.
Scottish Widows has countered that under-performance is confined to its global equities business.