Unclaimed asset in Colonial Mutual

I have received a letter from Rightful Claims from Australia that they have found an unclaimed asset in Colonial Mutual UK . They want me to sign up with them for a 30% commission of the unclaimed asset. I did have a policy with Colonial Mutual but I thought it had paid out. The policy is in my previous married name and attached to a previous property I lived in. They say the unclaimed asset matured in 1997 but is held by another Australian company. So far I have contacted Friends Life who now run ex Colonial Mutual investments and am waiting on them getting back to me. I also believe Colonial Mutual customers received shares in Commenwealth bank of Australia when it was demutralised? Would these shares be registered in the UK or Australia? How would I trace them? I have also been on Australian lost investment websites and entered my name but nothing comes up? Does anyone have any advice or experience that could help me solve this dilemma, many thanks.
«1

Comments

  • LHW99
    LHW99 Posts: 4,047
    First Anniversary Name Dropper First Post
    Forumite
    Don't hand over any personal details if you do contact them (at least at first) - are they wanting money up front? if so run a mile!
    Have you tried both these sites?
    https://www.moneysmart.gov.au/tools-and-resources/find-unclaimed-money
    https://www.revenue.nsw.gov.au/unclaimed-money/search
  • DrSyn
    DrSyn Posts: 888
    First Anniversary First Post
    Forumite
    I agree with post 2, do no give money up front. Maybe try those links.

    If those are unsuccessful, you could have a look at these.

    https://www.theguardian.com/money/2002/sep/05/consumeraffairs.lifeinsurance

    The Guardian article is dated 2002 :-

    Your best bet is to contact Winterthur Life, which bought out Colonial's UK life insurance business. If you ring 01256 470707, there are recorded options, and option two puts you in touch with the Colonial Policy Team, which should be able to help.

    http://policydetective.co.uk/searchResults.jsp#myAnchor
  • Thanks but I have already tried both these sites but nothing comes up
  • I have contacted Friends Life who now run Winterthur, 5 days waiting list for them to get in touch. Rightful claims have not asked for any money up front, no win no fee basis
  • IanSt
    IanSt Posts: 366 Forumite
    A question to the wider audience - is it common practise for companies like this to actually give out details of the 'lost' asset?

    I would have thought that they would give out the absolute minimum and nothing at all about the company it was with, otherwise what's to stop someone getting in contact with that company themself and thus saving having to pay any 'finder fee'.

    I suppose they might need to let people know because otherwise most people would just think it's some kind of scam and throw the letter into the bin, but it seems to me to be a bit of a weird business practice.
  • They don't reveal all the details of were the unclaimed asset is until I sign the agreement form. I am trying to find it myself beforehand, but no luck so far
  • Update on unclaimed asset, link market services have confirmed shares registered in my name for Commenwealth Bank of Australia
  • Spireite 50.
    Have you made any further progress as im in the same position and trying to find an asset i have with colonial mutual. Many thanks
  • Hi
    no not of yet, did you try to phone someone, I May be wrong, but did you try phoning someone to help you. The trouble is colonial mutual has been sold on so many times, it’s hard to get an answer, I haven’t contacted the asset company have you?
    Kind regards 
  • I rang a number i found with no joy in basingstoke, company name winterhur.
    Im at present trying to speak to a financial adviser i know to see if he can throw some light 
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.8K Work, Benefits & Business
  • 605.9K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards