About two-thirds of AXA Sun Life's 1.6 million with profits policyholders have been told their bonus rates will be maintained at last year's rates, while the remainder will see cuts of between 0.25% to 0.75%.
Terminal bonuses have been reduced, increased or maintained unchanged. Market value reductions have been reduced by between 3% to 6% on most policies. The announcement affects the AXA Sun Life With Profits Fund and the Sun Life Assurance Society With Profits Fund. AXA says the funds returned 11% of positive growth in 2004, reversing a previous trend, although it adds it will take more stock market gains to put it on track to restoring bonuses for all. So far this reporting season only Prudential has announced it is maintaining all bonus rates. AXA cites a typical annual retur...
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