Aviva Group the parent company of all the above mentioned companies have announced they wish to divest themselves of their inherited estate also known as orphan assets. Because it is unclear who these assets belong to in the first place, and in what proportion they should be distributed to policyholders, and shareholders Claire Spottiswoode has been appointed by the FSA to oversee the distribution. Because it is early days still, at this stage it is good enough in our opinion just to visit:- www.policyholderadvocate.org.uk for a current update, with the option of expressing an opinion or waiting as we will, until events develop, and unfold further.
We do favour however, no distribution should be made until it is clear solvency margins are not at risk, and future bonus declarations can be maintained at present day levels, with some modest prospect of increasing terminal bonuses, for present day policyholders.