Spottiswoode backs fresh Aviva £1.4bn inherited estate offer

Aviva policyholder advocate Clare Spottiswoode has described a revised reattribution offer for...

Aviva policyholder advocate Clare Spottiswoode has described a revised reattribution offer for with-profits policyholders as "good news", even though it represents around half the amount originally promised. Spottiswoode says the £400m windfall, a figure based on an 80% take-up and a forecasted 'inherited estate' value of £1.2bn, is fair following the turmoil in the financial markets. But the payout, made in return for policyholders surrendering their right to future payouts from the inherited estate, currently worth £1.4bn, is significantly less than the original offer made last July. ...