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AIG says 95% of enhanced fund investors moved to recovery fund

AIG Life has revealed that 95 per cent of policyholders trapped in the frozen enhanced fund have opted to transfer into the protected recovery fund.

The enhanced fund will close on 15 December and the policyholders which chose to exit the fund at that date will receive 87 per cent of the face value of their investment back – making a loss of 13 per cent.

Nearly 99 per cent of policyholders made a decision about which option to take, but those who did not respond will be automatically placed in the recovery fund.


Clarity case

The RDR interim report contained some exc- iting proposals which would have enabled the FSA to meet all three of its primary objectives – improving clarity for consumers, raising professional standards and reducing the potential for conflict of interests that can exist in traditional remuneration practices.


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