During an upgrade of its unit-linked pricing system Norwich Union has identified that a small proportion of its unit-linked customers – approximately 3 per cent - are entitled to additional units.
During an upgrade of its unit-linked pricing system Norwich Union has identified that a small proportion of its unit-linked customers – approximately 3 per cent - are entitled to additional units.
These units will be credited to customers’ policies automatically. Where policies are no longer in force, the value of any additional units will be paid by cheque. Approximately 100,000 customers are affected and the average value of the additional units will be Ł70.
Norwich Union is in the process of writing to these customers to advise them of their entitlement to additional units. Customers do not need to take any action themselves.
The upgrade to Norwich Union’s unit-linked pricing system is now complete and will ensure more accurate pricing for all unit-linked policies.
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Press office contacts
James Evans 08703 666871 or 07790 487105
Ian Beggs 08703 666871 or 07790 487533
Louise Goffee 08703 666870 or 07810 057362
Notes to editors
- Norwich Union is the UK’s largest insurer. It is the UK’s largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company’s long-term savings business.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including Tesco Personal Finance and The Royal Bank of Scotland Group.
- Norwich Union’s news releases are available on the Aviva plc website at www.aviva.com
- A selection of images are available from the Norwich Union Newscast site at www.newscast.co.uk