CGNU lowers MVRs again

CGNU's with-profit fund gained 17.7% before tax over the past year, resulting in rises in final bonu...

CGNU’s with-profit fund gained 17.7% before tax over the past year, resulting in rises in final bonus rates and some regular bonuses. The cash-in value for a £10,000 lump sum 10-year bond, maturing on 1 January 2006 would now be worth some £16,797, according to the group, equating to a return of 5.3% p.a., £3,871 above inflation. At the beginning of the year the group announced another lowering of its market value reduction and policies enacted in 2001 are no longer subject to the exit penalty. MVRs on policies taken out in 1998 have now been dropped to 3% from 4%, 1999 policies feature...