Liverpool Victoria takes with-profits 'back to basics'

Known as the All-in-1 investment bond, this new intermediary-only proposition is a ‘back-to-basics’ approach for with-profits and resurrects the original concept of such investments, which was to ensure all the profits of the fund are returned to the policyholders, says Malcolm Berryman, group chief executive at Liverpool Victoria. “It is incumbent upon us as an industry to look at how we have reacted to the changing consumer wishes and the answer is not very good. With-profits was originally designed to offer a share of the profits in mortality protection. The model shifted to include i...