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Cash to give away?
brandx
Posts: 64 Forumite
Not sure if this is the right place. I've read and heard snippets in the business news recently that some insurance companies - Norwich Union is definitely one- have some 'surplus' cash which they are deciding how to distribute amongst their policyholders. Does anyone know any more about this?
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Comments
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Hasn't anyone read anything about this? I know I didn't dream it!0
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Might this link update you? Basically what has happended is that the companies and their predecessors like Commervial Union built up reserves against their comitments that are no longer needed. The idea is that shareholders shoold get part of the surplus, polivy holders some, after sufficient has been retained to maintain adequate reserves for future needs. It has to be decised on what basis the distribution to policy holders should be made.
Claire Spottiswoode has been appointed to lead consultations and arbitrate on how the pot should be divided.0 -
Thanks guys.0
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