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.. »
A survey found that returns on endowment policies were outperformed by the stock market and even cash held on deposit. more.. »
Hot on the heels of Legal & General’s bonus cuts, Standard Life announced a double whammy for their 2 million with profits customers. Final bonuses will be cut by up to 13 percent while exit penalties in the form of Market Value Reductions (MVR’s) will be increased. more.. »
Legal & General announced they would cut final bonus rates on with profits policies by up to 9 percent. The cut was blamed on poor investment performance and “turbulent market conditions”. more.. »
Norwich Union have announced they will introduce exit penalties in the form of Market Value Reductions for with profits policyholders. more.. »