Aviva payout goes to voters
POLICYHOLDERS at insurance group Aviva are being sent voting packs outlining the proposed “reattribution” of surplus funds at the company.
Aviva is asking its customers to accept payments of a minimum of £200 to forego any future share of surplus cash. Those who vote “yes” will receive payments in November 2009.
The deal, which has been recommended by the policyholders’ advocate, affects those with polices in two with-profits funds – CGNU Life and CULAC. Ninety per cent of those in line for a payment will receive a tax free payout between £200 and £1,150.