£2bn bonus for Norwich Union policy holders
More than one million Norwich Union with-profits policyholders are set to share a £2.1bn (€2.8bn) special bonus, the group said today.
The insurer said it was distributing £2.3bn (€3.08) of its so-called inherited estate, with 90% going to its with-profits customers and 10% being returned to shareholders.
Under the move, 1.1m qualifying policyholders in the group’s CGNU Life and CULAC with-profits funds will receive a payout worth around 10% of their policy value.
The money will be paid in three instalments, with the first one made this year, followed by further payouts in 2009 and 2010.
Shareholders will receive £230m (€308m) of additional capital, which will also be paid out in three goes.
