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Misys survey reveals the red light runners

Mortgage endowment figures from Misys reveal that 43 per cent of Scottish Amicable&#39s policies are now in the red, with 37 per cent amber and 20 per cent green.

This was in stark contrast to Norwich Union and Clerical Medical which both have just 7 per cent in the red, 57 and 54 per cent amber and 36 and 39 per cent green respectively.

The research compiled by Misys reveals that only six endowment providers were willing to release the information, leading to Misys head of research Dale Tranter to stress that even though ScotAm is running at 43 per cent in the red, it is probably not the worst performer.

Tranter says those on the list traditionally have the best-performing endowment books while the rest tend to languish at the bottom of the tables and so do not want their figures made public.

Clerical, NU, Prudential, including ScotAm, Scottish Life and Scottish Widows, were willing to provide Misys with their most recent figures, with the rest either refusing or saying they had not compiled figures for this year.

Tranter says: “I think there is a bit of reluctance on the part of many providers to release the figures because they do not want people to see how bad they are.

“Eagle Star&#39s figures would make for really bad reading, Friends Provident were one of the worst performers last year while Standard Life is not willing to publish its numbers because of its promise which is predicated on a number of conditions.”

Friends Provident communications manager Jim Murdoch says: “We just do not provide the figures, we never have done. We do not think that it serves any particular purpose to do so.”


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