Norwich Union offers guarantee on with-profits

Norwich Union has introduced a carry forward guarantee on its with-profit bonds with an existing mar...

Norwich Union has introduced a carry forward guarantee on its with-profit bonds with an existing market value reduction (MVR) free anniversary. This means policyholders who decide not to cash-in their policy on an MVR-free anniversary can still take advantage of this guarantee at a later date. The group also intends to write to with-profit bond policyholders three months prior to any MVR free anniversary if it applies to the policy. At present, the group is only applying MVRs on money invested between 1998 and 2001.