Aviva has been forced to set aside almost £100m after two former workers in its fund management arm breached its trading policy.
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Wednesday 11 February 2009
It's the way of the world we live in. The man leading the inquiry into bankers' bonuses turns out to have been the chairman of a bank – and to have received bonuses. The people running an investigation into why the House of Commons is composed of such a narrow section of the population – predominately white, male and middle class – just happen to be MPs.
Thursday 05 February 2009
Thursday 05 February 2009
Outlook Norwich Union has spent a packet trying to convince us that it makes sense to change its name to that of its parent company Aviva. Now it proposes to slash the windfall that with-profits policyholders were to have got from the inherited estate. Aviva, Norwich Union, it matters not to downtrodden life fund investors. Every statement seems to bring more bad news.
Wednesday 28 January 2009
Outlook Standard Life's announcement of withdrawal restrictions for more than 200,000 savers in its commercial property funds is yet another blow to those who thought bricks and mortar would prove a golden goose. Add in savers at Norwich Union, which announced a similar move earlier this month, and close to half a million people have just been told they can't have their money back without big delays.
Friday 16 January 2009
When we first took out home insurance with Norwich Union, about eight years ago, I remember being put through to a homely sounding switchboard in Sheffield – its address was only a matter of yards from the city's old Playhouse where I used to spend many an entertaining evening in my teens. All right, so the company was quite far away from Norwich even then, but it was somewhere and something with an identity and an identifiable place in a familiar world.
Monday 29 December 2008
There's no faulting insurer Aviva for the list of celebrities it has signed up to promote an ad campaign designed to explain why it is dropping the Norwich Union brand. It includes Bruce Willis, below, Ringo Starr, Alice Cooper and even Dame Edna Everage, all explaining why they once changed their name. There can't have been much change out of Aviva's £10m marketing budget once that lot were paid their fees.
Sunday 30 November 2008
Sunday 02 November 2008
Some insurers may be poised to stop offering new unemployment insurance policies, fearing that more people will soon be making claims. Unemployment cover pays an income if the policyholder is made redundant. The idea is that the policy pays enough for the claimant to live off until they find a new job. It differs from payment protection insurance, which only pays enough to cover a specific loan or credit card debt.
Sunday 02 November 2008
Investors in with-profits funds have been warned of a "vicious circle" of bonus cuts and penalties should they choose to withdraw their money.
Wednesday 22 October 2008
Saturday 02 August 2008
Thursday 31 July 2008
Aviva has offered £1bn to buy out 1.1 million policyholders in two of its funds, bringing to an end a two-year battle with the policyholders' advocate, Clare Spottiswoode.
Wednesday 30 July 2008
Payments averaging £1,000 are to be offered to one million policyholders in two of Norwich Union Life's with-profit funds, insurer Aviva said today.
Sunday 13 July 2008
The size of your waistline could dictate the size of your pension payout if plans from Legal & General, Britain's biggest annuity provider, come to fruition.
Saturday 21 June 2008
Q. I have a similar problem with Norwich Union to that of RS (Questions of Cash, 31 May). My policy matured on 1 May, yet despite all documentation being on time, I heard nothing from NU. I phoned NU on 10 May and it said it had a backlog. It says the only compensation I will get is interest at 3.75 per cent gross – well below the rate of funds on deposit. Eventually I received the payment, but without any explanation for the delay. KR, by email.
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