In response to the article in last week's Money Marketing headlined, NU rethinks with-profits bond strategy, NU wishes to set the record straight on its commitment to with-profits bonds.
Norwich Union is one of the biggest providers of with-profits bonds in the industry and believes they have a key role to play in the investment arena. To reinforce our continued commitment to with-profits,we have just launched a special offer on our main bond products and launched an offshore with-profits bond.
One of our key objectives is to widen our investment offering to consumers to complement our strength in the with-profits bond market – this is clearly evidenced by our launch this week into the structured income bond market.
This widening of our investment offering is not a diversification away from with-profits. With-profits remains one of our key offerings.
Referring to the comments in the article that NU declined to disclose new business figures, as part of Aviva plc, Norwich Union reports its new business figures on a quarterly basis and as such is unable to disclose current sales figures outside of this reporting cycle. We will be updating the markets on our third-quarter sales figures on October 24.
Sales & marketing director, Norwich Union