National Mutual is writing to policyholders explaining its demutualisation and sale to GE Capital.
Policyholders will be asked to attend an EGM on November 20 at Lords cricket ground in London to vote on the proposals. GE bought NatMut in June in a deal worth £570m. Members will receive £500 for loss of membership rights. A further £280m will be distributed over time to qualifying policyholders in bonuses.