Royal London maintains with-profits annual bonus rates

Royal London has maintained annual bonus rates on the closed Scottish Life with-profits fund, althou...

Royal London has maintained annual bonus rates on the closed Scottish Life with-profits fund, although most final payments have reduced compared to January 2006. Group finance director of Royal London Stephen Shone said the reduction in terminal payouts relative to 12 months before is primarily a result of an increase in liabilities relating to guarantees which apply to certain policies in the fund. The Scottish Life fund remains largely invested in corporate bonds, with 68% at the end of 2006 compared to 66% a year earlier. Other weightings include 23% in property, down from 26%, 8% ...