From: "biggirlsblouse" 
Newsgroups: uk.finance
Subject: Re: norwich union wth profits reattirbution
Date: Sat, 29 Sep 2007 15:55:34 GMT
Bytes: 2389


"Tim"  wrote in message news:5eadnYrig7x-7GPbRVnysAA@bt.com...
>>> "biggirlsblouse" wrote
>>>>...
>>>> Can anyone tell me why this considerable fund should be
>>>> "reattributed" (stolen and given to shareholders possibly) ...
>>>
>> "Tim" wrote
>>> "Stolen" from whom?
>>> Who do you think it belonged to before?
>>>
> "biggirlsblouse" wrote
>> It belongs to the withprofits policyholders ...
>
> Why do you think that?
>
> "biggirlsblouse" wrote
>> ... to which it would have provided a fair bonus ...
>
> But bonus is declared through a (usually 90/10) "gate", isn't it?
>
> "biggirlsblouse" wrote
>> ... not taking it away to "develop future
>> business". That what the normal profit is for.
>
> Eh?  "Developing future business" is surely one of the
> best things to use the inherited estate for, which would
> then benefit both shareholders *and* policyholders
> when the profits from that new business is released...
>
Well I have to say that if it is 90/10 gate then we have been shortchanged 
for at least 3 years!... because the amount of bonus over my entire 10 years 
investment has hardly achieved RPI (if you include the bonus as compounded)