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Aviva extends reattribution deadline

Aviva has extended the deadline for its ballot on the reattribution of its inherited estate by a month to September 21.

In May, Aviva and policyholder advocate Clare Spottiswoode renegotiated a deal for the firm’s inherited estate which would see payments to policyholders slashed in half.

The average payment offered to policyholders was £500 when the voting kicked off in June compared with the £1,000 offered under the original deal.

Aviva says three-quarters of the one million votes are already in, with 96 per cent in favour of the offer.

But Aviva Policyholder Action Group joint founder Philip Meadowcroft has slammed the firm for moving the voting deadline to after a court hearing, scheduled for September 14, where by a judge will either approve or disprove the offer.

He says: “This is shambolic. Three-quarters of a million people voted according to the deadline without knowing the outcome of the September hearing and they feel that they have been cheated because they could have waited longer and made a more informed choice. This is a banana skin thrown down.”

In June, the action group brought to light the fact that a large chunk of policyholders – around 250,000 – were unlikely to get their information packs before a series of reattribution roadshows kicked off.

An Aviva spokeswoman says: “We believe our offer is good value for over 99 per cent of customers and we are confident that customers have all the information they need to make a choice.

“Aviva has so far received a response rate of over 75 per cent from eligible policyholders. As a result we’ve made arrangements to accept votes through September so that any remaining eligible policyholders don’t miss out on this deal.”

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