Healthy growth expected for NU with-profits funds

Norwich Union (NU) is predicting 7% annual growth before tax and charges on its main with-profits fu...

Norwich Union (NU) is predicting 7% annual growth before tax and charges on its main with-profits funds, despite lower returns expected from markets in the coming years. The group has also reinforced its commitment to meeting 2000's pension promise to meet any shortfalls on mortgage endowment policies, despite not earning the stated sufficient investment return on its free reserves. NU said it will continue to support the promise as long as it is not to the detriment of policyholders, and has set aside £1bn. Overall, the group declared bonuses totalling £1bn for three million with-profit...