|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    24th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Insurance News feed Insurance News

All Financial News feed All Financial News

Aviva abandons plans for windfalls

Bookmark and Share

by Kay Mitchell

The world’s fifth largest insurance group, Aviva, threatens its reputation as it warns that it is to abandon the distribution of the £5 billion surplus from its Norwich Union with-profits funds.

The insurer said it may mothball the scheme for several years, abandon it altogether or bypass policyholder advocate Clare Spottiswoode and present offers direct to policyholders.

Aviva said it still hopes to strike a deal where the cash is split between policyholders and shareholders in a way both parties agree is fair.

However, sources close to the company said such an outcome is becoming less likely as it is believed that both parties cannot agree over how much of the money the insurer can ring fence for its own purposes.

Discuss this in the Finance Markets forums

Story link: Aviva abandons plans for windfalls

News posted: January 21, 2008

Financial Services:

Related financial stories to: Aviva abandons plans for windfalls:
Previous: «
Next: »

Visited 1755 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.