Some members of this forum may have investments with Norwich Union which may entitle them to a large finacial pay out. If so, then it is likely that they have been contacted by both Norwich Union and the Policyholder Advocate regarding Norwich Union's proposed reattribution of the Inherited Estate. Norwich Union itself, is pushing very hard for the reattribution (too hard in my opinion) when there is actually an alternative arrangement, which considerably favours the Policyholders in the form of a DISTRIBUTION.
Under the terms of the DISTRIBUTION, the Policyholders are entitled to
90% of the Inherited Estate. Norwich Union valued the Inherited Estate on 30th June 2006 to be worth £4.2 BILLION - a huge sum of money. There are some 1.2 million policyholders entitled to 90% of the Inherited Estate. The reattribution plan, which Norwich Union is proposing, is a plan intended to considerably reduce the amount of money which 1.2 million Policyholders would receive.Policyholders have been effectively excluded from the negotiations by Norwich Union's appointment of the "Policyholder Advocate", which it is claimed is an independent appointment of Clare Spottiswoode to represent Policyholders' interests. the Policyholder Advocate is presently being paid an annual salary by Norwich Union of around £250,000, which, in my opinion, makes the role of Policyholder Advocate a very highly paid Norwich Union EMPLOYEE, and thus the Policyholder Advocate cannot be INDEPENDENT. As such 1.2 million policyholders, entitled to a 90% share of £4.2 BILLION, are being excluded from having proper representation over this issue.
As an eligible Policyholder myself, I am appalled at the sheer audacity of Norwich Union's attempt to hoodwink 1.2 million Policyholders into being bribed into taking a lesser sum under its reattribution plan than the 90% share of the Inherited Estate to which we are entitled under a DISTRIBUTION. To this end, I have just formed another Google Group entitled: " Norwich Union Policyholder (reattribution)" where I wish to invite anyone concerned to join so that Policyholders can make their opinions known and matters can be discussed amongst Policyholders themselves. The group can be found at: