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Norwich Union Reattribution?

Having just received a letter from Norwich Union about reattribution vs. distribution I am lost as to what they are trying to do and why. I have a with profits (what a laugh) endowment policy that is performing poorly but now I get a letter saying Norwich Union have discovered some additional funds in the form of "inherited estate." But it appear they wish to use this to pay shareholders rather than policy holders with endowment deficits.

Is it cheaper to pay FSA fines and mis-sold endowment settlements than actual make up the losses using this money? Why pay shareholders rather than policyholders?

Why does their documentation only talk about the benefits of reattribution but makes no comment on the disadvantages of reattribution or benefits of distrubution? Hardly seems an imparital stance and advice if they are asking people to vote on the matter.

Any advice or comments welcome on this confusion issue.

Kevin

Reply to
KOS
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Reply to
Daytona

Many people are of the opinion that this is the money of policyholders who have been short changed over the previous decades. The money was meant to 'smooth' volatility in the markets but what did we see when the markets dipped recently? Yes the policies went south as well.

Now we have Prudential wanting to get its mitts on £9 billon, it's a feeding frenzy and all policyholders should get together to fight their corner, contact

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Evan

KOS wrote:

Reply to
evan.owen

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