Norwich Union Dispute Over Reattribution Close To Being Resolved

Published: 5/6/2010

A spokesman from Norwich Union has said that the GBP2.6 billion reattribution of surplus funds is close to being resolved following previous disputes.

A representative for policyholders has been asking for changes since the reattribution of funds was biased in favour of Norwich Union shareholders and needed attention. Following this a committee from the government has been looking at the situation to ensure fairness.

Norwich Union are offering payments to with profits insurance fund policy holders but they will then not be eligible for any further annual bonuses. They are yet to hear if this latest offer is acceptable but hope it will be so that the funds can be paid out.