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Aviva and Spottiswoode could be close to deal on inherited estate

Speculation is mounting that Aviva and Clare Spottiswoode could be close to submitting a proposal to the FSA over the insurer’s inherited estate.

Spottiswoode is representing policyholders in discussions over how to distribute the £5bn surplus – or inherited estate – which is the money over and above what is needed to meet obligations to policyholder’s built up over decades.

Press reports suggest the two parties are close to striking a deal, which could result in payouts for more than a million policyholders.

The regulator is likely to take several weeks to consider the matter.

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