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Carpetbaggers eye ScotProv

Scottish Provident is to be the next target for a demutualisation campaign, with only 20 more signatures needed for a resolution for a special general meeting.

Carpetbaggers have been collecting signatures all month to force the life office to demutualise. Demutualisation would lead to windfalls of between £500 to £2,000 to its 300,000 with-profits policyholders.

A spokeswoman for Scottish Provident says any payout to non-profits policyholders would depend on the details of the demutualisation.

But the insurer closed the door on carpetbaggers in February by withdrawing its with-profits bonds and endowments from sale in the UK.


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