The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Thursday, February 14, 2008

Which? Campaign Against Norwich and Prudential

Which? Campaign Against Norwich and Prudential

Which? has launched a campaign against Norwich Union's and Prudential's plans for reallocating the assets of their respective inherited estates.

Which? does not mince its words, and refers to the schemes as "rip offs".

"Which? is calling on the Financial Services Authority (FSA) to act to prevent £7 billion of with-profits policyholders’ money being 'reallocated' to shareholders.

Without a change in FSA policy, millions of Norwich Union and Prudential policyholders could lose out. Which? believes it is unacceptable for the Government and FSA to stand by and do nothing to stop this smash and grab raid
."

Which? are asking for people who hold with profits policies with Norwich Union and Prudential to contact them at withprofits@which.co.uk

I have a policy with Norwich Union, and most certainly be in contact with them.

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