Policyholders of two Aviva with-profits funds could receive an additional payout in 2008 if policyholders, life office officials and independent adjudicators agree to access the assets inside its inherited estates.
A statement issued today by Aviva - parent group of Norwich Union - says it intends to send letters to policyholders with assets in the CGNU Life and Commercial Union Life Assurance Company (CULAC) with-profits funds highlighting the possibility of additional payouts in return for their right to claim future payouts from the inherited estate funds - thought to be worth £4bn - along with information about the role of the Policyholder Advocate. This latest move by Norwich Union comes at the same time as the Financial Services Authority is said to have asked similar life insurance companies t...
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