March 6th, 2009
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.. »
Technorati Tags: aviva, inherited estate, norwich union, policyholder advocat, reattribution offer
March 2nd, 2009
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.. »
Technorati Tags: bonus, mortgage endowment, mutual, with profits
February 27th, 2009
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
February 23rd, 2009
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
February 13th, 2009
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
February 12th, 2009
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
February 9th, 2009
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
January 20th, 2009
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.. »
Technorati Tags: aviva, endowment, endowment shortfall, norwich union, with profits
January 9th, 2009
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.. »
Technorati Tags: bonus, Friends Provident, fund, MVR
January 2nd, 2009
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.. »
Technorati Tags: standard life