Article date: 20 September 2006
Norwich Union will be withdrawing its Immediate Care Plan to newbusiness with effect from 20 November 2006. There is no impact onexisting Immediate Care Plan customers as a result of thischange.
Scott Brown, head of annuities, Norwich Union, said: "The growth wewere anticipating in this market has not been realised over thelast few years, meaning that it is no longer commercially viable toincur the cost of this product."
Applications for Immediate Care Plans received prior to close ofbusiness on 13 October will be accepted, provided they areaccompanied by a new business illustration. All applicationsreceived by close of business 24 December, with a valid quote orre-quote, will be honoured.
Press office contacts:
Cheryl Cox 01904 452791 Out of hours 07800 695275
Rob Pell 01904 452659 Out of hours 07800 699563
David Gwyer 01904 452828 Out of hours 07800 699508
Notes to editors:
Norwich Union is theUK’s largest insurer. It is a leading provider of life,pensions and investment products and one of the largest financialadviser (FA) providers. FAs provide over 70% of the company'slong-term savings business in the UK.
Norwich Union is the UK’s largest general insurer with amarket share of around 14%, with a focus on insurance forindividuals and small businesses.
Norwich Union’s news releases and a selection of images areavailable from Aviva's internet press centre at www.aviva.com/media.