Article date: 13 December 2002
During an upgrade of its unit-linked pricing system NorwichUnion has identified that a small proportion of its unit-linkedcustomers – approximately 3 per cent - are entitled toadditional units.
These units will be credited to customers’ policiesautomatically. Where policies are no longer in force, the value ofany additional units will be paid by cheque. Approximately 100,000customers are affected and the average value of the additionalunits will be £70.
Norwich Union is in the process of writing to these customers toadvise them of their entitlement to additional units. Customers donot need to take any action themselves.
The upgrade to Norwich Union’s unit-linked pricing systemis now complete and will ensure more accurate pricing for allunit-linked policies.
Press office contacts
James Evans 08703 666871 or 07790 487105
Ian Beggs 08703 666871 or 07790 487533
Louise Goffee 08703 666870 or 07810 057362
Notes to editors
- Norwich Union is the UK’s largest insurer. It is theUK’s largest provider of life, pensions and investmentproducts and one of the leading IFA providers. IFAs provide around75% of the company’s long-term savings business.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group.
- Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com
- A selection of images are available from the Norwich UnionNewscast site at www.newscast.co.uk