Scot Widows and Pru strong on bonus rates

Scottish Widows has broadly maintained regular and final bonus rates across its conventional and uni...

Scottish Widows has broadly maintained regular and final bonus rates across its conventional and unitised with-profits policies. The group has also cut market value reduction (MVR) levels, with average reductions of 5% at present compared with 10% at the end of 2003. The return from Scottish Widows' £18.1bn with-profits funds was 10.5% gross of tax over 2004 compared with 9% the previous year. Actuarial director at Scottish Widows Adrian Eastwood said: "By pursuing a prudent approach to bonuses we have avoided any undue restrictions on our investment freedom and so have benefited from t...