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Clerical slashes with-profits bonuses

Clerical Medical has slashed bonuses on its with-profits policies, but MVRs have dropped by between 2 and 4 per cent from this time last year.

Regular bonuses on its with-profits life policies have been chopped down to 0.8 per cent from 1 per cent last year while with-profits pension policy bonuses fall to 1 per cent from 1.5 per cent.

Clerical’s with-profits fund returned 9.9 per cent over the course of 2004.

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