The FSA’s latest consultation paper on compensation and redress payments from With Profits Inherited Estates will disappoint many as it now favours shareholders at the expense of policyholders. (more…)

Technorati Tags: FSA, inherited estate, mis-selling, norwich union, prudential, select committee, treasury, with profits

The latest announcement from Legal & General reveals a big jump in mortgage endowment shortfalls.   A fall in the value of the with profits fund has also led to cut in with profits bonus rates. (more…)

Technorati Tags: bond, bonus, endowment mortgage, L&G, legal and general, shortfall, with profits

More bad news for endowment mortgage and other with profits customers as Scottish Widows announce their latest bonus rates.  The £14 billion with-profits fund fell by 17.5  percent last year and customers can expect shortfalls and bonus rate cuts (more…)

Technorati Tags: asset, bonus, endowment mortgage, policy, scottish widows, unitised

The FSA has warned insurers they must be fair to with profits customers when cutting fund values and bonus payments. (more…)

Technorati Tags: bonds, bonus, consumer, economic forecast, financial markets, FSA, liabilities, MVR, risk, with profits

Aviva announced that Norwich Union’s reattribution offer to policyholders would be cut due to continued volatility and uncertainty in the financial markets and a fall in value of the CGNU Life and CULAC inherited estates. (more…)

Technorati Tags: aviva, inherited estate, mcev, norwich union, policyholder, reattribution offer