EQUITABLE LIFE gave policyholders a much-needed boost yesterday by increasing their bonuses and arguing the society was £166m stronger than last year, according to this morning's papers.
The insurer said pension holders' bonuses had been increased to 3.5% from 2.5% while holders of life insurance savings plans will see an increase to 2.8% from 2%, although the bonuses are not guaranteed, says the Daily Telegraph. Early exit penalties have been cut to 8% from 11.1%, making it easier for policyholders who want to leave before their policies mature to withdraw their funds. EQUITABLE ALSO insisted yesterday it would press on with its £1.7bn negligence suit against its former directors, despite last week abandoning a separate £2bn claim against its former auditors, Ernst &...
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