NU with-profits customers in line for £2.1bn bonus

Customers in its CGNU Life and CULAC with-profits funds will receive a bonus of about 10% of their policy’s value in three installments. Shareholders will also receive £230m. To receive the first bonus installment, a policyholder would need to have a qualifying policy invested in the CGNU Life or CULAC with-profits funds on 1 January 2008. Mark Hodges, chief executive of Norwich Union Life, says: “As a result of the funds’ financial strength, performance, and the changes made to our investment strategy we can release around half of the inherited estate - 90% to our policyholders and 10% ...