Norwich Union endowment policyholders have been hit by bonus cuts again. Other with profits customers are also affected. NU believes it’s mortgage endowment promise to customers facing a shortfall is still viable. (more…)
Friends Provident with profits policyholders had a shock today when drastic bonus rate cuts were announced. The cuts are a response to an estimated minus 10.5 percent gross investment return on the With Profits Fund last year. (more…)
Standard Life’s Chief Executive Sandy Crombie has been awarded a knighthood in this years New Years Honours list although there’s no mention of any honours for Standard Life’s with profits customers. (more…)
Life insurers are facing the possibility of new, stricter rules governing financial reporting. The rules deal with market consistent embedded value and are more rigorous than those currently used. There is concern from insurers that they could substantially cut the value of some companies. (more…)