Spottiswoode backs fresh Aviva £1.4bn inherited estate offer

Spottiswoode says the £400m windfall, a figure based on an 80% take-up and a forecasted 'inherited estate' value of £1.2bn, is fair following the turmoil in the financial markets. But the payout, made in return for policyholders surrendering their right to future payouts from the inherited estate, currently worth £1.4bn, is significantly less than the original offer made last July. Then, Aviva said more than one million policyholders in two of its with-profits funds were eligible for a £800m payout. That was subject to the value of the FTSE 100 remaining at the 5,000 point mark. But, ...