Norwich Union International Limited, Norwich Union’s offshore company, has launched a with-profit bond into the UK offshore market.
Norwich Union International Limited, Norwich Union’s offshore company, has launched a with-profit bond into the UK offshore market.
The Norwich Union International With-Profit bond is based offshore in Dublin and so offers the distinct advantage of investment returns that grow free of income tax and capital gains tax*. It offers an annual bonus rate of currently 4%** and has a minimum investment of Ł10,000.
Commenting on the launch, Paul Sherlin, Marketing Director at Norwich Union International, said: “There’s been a lot of activity in the offshore with-profit market recently and we’ve received strong demand from IFAs to launch such a fund. Despite the fact that some providers have had to close their with-profit products to new business, we firmly believe that with-profits will continue to be a key part of the investment mix for many customers.
"With-profits policies continue to provide real returns – despite poor investment conditions. So in these very challenging times, it’s reassuring to know that IFAs can now access Norwich Union’s With- Profit fund in an offshore wrapper. That fund is backed by the brand that manages with-profit funds in excess of Ł50 billion.”
*Except non-UK withholding tax that we are unable to recover.
** Future bonus rates are not guaranteed and may vary.
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For further information:
Norwich Union International Mike Gogan
00 353 1 802 8415
Financial Dynamics Christine Wood
020 7269 7253
Notes to editors
- Norwich Union is the UK’s largest insurer. It is the UK’s largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company’s long-term savings business.
- Norwich Union’s news releases are available on the Aviva plc website at www.aviva.com