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NU considers bank-style charges

The life insurance industry must consider hitting policyholders with “bank-style” service charges in the future according to Norwich Union. Following newswire reports that life offices are planning extra charges for services such as access to calling centres and requesting additional statements, the ABI says it is not aware of any such plans. But an NU spokeswoman says: “The idea of charging for services over and above the standard levels of service is one that the industry needs to consider in the future”.

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The Zurich Financial Services Group is stressing its commitment to the UK life industry after a deal which will see it close Zurich Life and sell it to Swiss Re for £285m.The deal includes £149m cash to be paid when the transaction is completed, expected to be by the end of the year, with the […]

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