Norwich Union's response to price cap announcement

Article date: 17 June 2004

In a statement on today's price cap announcement from theTreasury, Gary Withers, chief executive, Norwich UnionLife, said: "The increase in the cap in the first ten years isan important step in the right direction.

"This is good news for the consumer as there will be moreproducts, choice and competition in the market, good for theindustry as we now have clarity and a more economic price cap, andgood for the Government as this should help to get the savings andpensions issue back on people's agenda. This outcome reflects aconstructive period of consultation on a complex issue."


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