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.. »
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.. »
The FSA has warned insurers they must be fair to with profits customers when cutting fund values and bonus payments. more.. »
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.. »
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.. »
In the latest stage of its Retail Distribution Review (RDR), the FSA outlined how it will target mis-selling by forcing a clearer distinction between sales people and financial advisers. more.. »
A huge mortgage gap affecting an estimated 1.3 million interest only mortgages is revealed by a new survey. It seems that many surveyed were relying on house price increases to meet their mortgage capital repayments. more.. »