Standard Life have announced the value of the inherited estate has fallen by 80 percent and may suffer further losses if stock markets continue their slide. The company also announced that surrender and transfer values on many of its with profits plans would be cut by up to 8 percent. (more…)
The Norwich Union inherited estate lost 33 per cent of its value, falling from 2.1 billion to £1.4 billion according to preliminary results released by Aviva. This huge fall in value was blamed on “substantial reductions in the value of equity and property investments.” (more…)
LV= is cutting annual bonuses on with profits by up to 4 percent as policy values fall an average of 1.4 percent. However £84.5m in bonuses will be added to LV= with-profits policies and the company was keen to stress their with-profit fund performed well, having much smaller falls in policy values compared with some unit-linked products. (more…)