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New Standard WP bonus cuts

•Standard Life announced another round of with-profits bonus rate cuts, reducing payouts by an average of 6 per cent.

This means that a £50 a month 25-year with-profits endowment policy is now worth £69,386 down from £75,984, an annual return of 10.7 per cent on total premiums of £15,000. There is to be no change to annual bonus rates.

Standard&#39s interim results also show its UK new business dropped by 27 per cent to £507m EPI from £694 for the six months to May 15 following two years of record growth at the group.

At the same time, its funds under management increased to record levels of £86.6bn from £83.3bn.

•Liverpool Victoria is cutting payouts on conventional with-profits policies by between 3 and 5 per cent. The change comes into affect from August 11 but leaves regular bonuses unaffected.

•Friends Provident&#39s results show a profit of £95m from a loss of £242m last year. It also had a record first half for life and pension new business, with a rise of 9 per cent to £198m EPI from £182m.

•Abbey National announced an overall loss before tax of £144m and a personal financial services business profit before tax of £351m down from £396m in 2002.

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