Articles and Reports
Office of the Policyholder Advocate reports and publications
- May 2009
May 2009 update 3 - view article » - May 2009
May 2009 update 2 - view article » - May 2009
May 2009 update - Aviva to send reattribution offer to with-profits policyholders in June. Latest update from Clare Spottiswoode, policyholder advocate view article » - March 2009
March 2009 update view article » - February 2009
February 2009 update 3 - Clare Spottiswoode’s interview with Moneybox website link view article » - February 2009
February 2009 update 2 - Clare Spottiswoode’s interview with Moneybox notification view article » - February 2009
February 2009 update - Announcement of reopening of reattribution discussions view article » - October 2008
October 2008 update - Treasury Committee response to the FSA and the Office of Fair Trading to committees report of 19 June 2008 view article » - September 2008
Policyholder advocate’s response to FSA consultation on mis-selling compensation download pdf » - September 2008
September 2008 update - Norwich Union and the Office of the Policyholder Advocate is in the process of notifying policyholders about the agreement view article » - July 2008
30 July 2008 - A deal is announced view article » - June 2008
June 2008 update 2 - Treasury Committee report. Includes press coverage view article » - June 2008
June 2008 update - Clare Spottiswoode welcomes the FSA proposal to stop life companies using the inherited estates for mis-selling compensation view article » - April 2008
Treasury Select Committee inquiry into the inherited estates - FSA download pdf » - April 2008
Treasury Select Committee inquiry into the inherited estates - OPA download pdf » - April 2008
April 2008 update 2 - The Office of the Policyholder Advocate's submission made to the Treasury Committee with the FSA's material view article » - April 2008
April 2008 update - Clare Spottiswoode gives evidence in Treasury Committee hearing. Includes links to reattribution related press coverage view article » - March 2008
March 2008 update - Clare Spottiswoode’s response to Norwich Union's offer in January. Includes media release view article » - February 2008
February 2008 update 6 - Media release about the Treasury Committee hearings view article » - February 2008
February 2008 update 5 – Clare Spottiswoode welcomes the Treasury Committee’s continuing interest in reattribution. Includes media release view article » - February 2008
February 2008 update 4 - Clarification of the article in The Independent view article » - February 2008
February 2008 update 3 – Clare Spottiswoode’s interview with BBC R 4 Moneybox and information about policyholder forums view article » - February 2008
February 2008 update 2 - Top five questions and answers about the special distribution announcement view article » - February 2008
February 2008 - Special distribution announcement and media release view article » - January 2008
January 2008 update 2 - "This is Money" and “Citywire article” view article » - January 2008
January 2008 update - Confirmation of eligibility criteria and information about the Treasury Committee hearing with the FSA. Includes press coverage view article » - December 2007
December 2007 mailing from policyholder advocate's office : Booklet download pdf » - December 2007
December 2007 mailing from policyholder advocate's office : Letter download pdf » - December 2007
Media coverage of Clare Spottiswoode’s response to the FSA letter of clarification view article » - December 2007
Financial services Consumer Panel response to FSA letter download pdf » - December 2007
Office of the Policyholder Advocate - Media Release view article » - December 2007
December Update view article » - September 2007
September Update view article » - September 2007
sep07-programme-leaflet.pdf download pdf » - September 2007
sep07-programme-letter.pdf download pdf » - August 2007
August Update view article » - June 2007
Office of the Policyholder Advocate - Draft Consultation Chapter download pdf » - May 2007
PA Summary Report download pdf » - May 2007
Learn more about the with-profits life insurance industry view article » - May 2007
Office of the Policyholder Advocate Roadshow Analysis download pdf » - May 2007
Office of the Policyholder Advocate Summary Report download pdf » - November 2006
Office of the Policyholder Advocate Letter download pdf » - November 2006
Office of the Policyholder Advocate Leaflet download pdf » - November 2006
Office of the Policyholder Advocate Terms of Reference download pdf »
Office of the Policyholder Advocate interviews
- 30 July 2008
Video interview with Clare Spottiswoode watch interview » - May 2007
Interview with Nick Dumbreck, Independent Expert listen to interview » - November 2006
Jane Bennett-Powell interviews Clare Spottiswoode listen to interview »
Aviva reports and publications
- July 2008
http://www.policyholderadvocate.org/downloads/Aviva-announces-reattribution-offer.pdfAviva Announces £1BN Reattribution Offer download pdf » - January 2008
Norwich Union Special Bonus press release download pdf » - December 2007
Norwich Union with profits reattribution: Your guide to eligibility download pdf » - November 2006
Aviva update on potential reattribution of inherited estate Link to press release » - February 2006
Aviva update on possible reattribution of inherited estate Link to press release »
Roadshow Reports
- Birmingham Roadshow
Roadshow Reaches Heart of England read report » - Cardiff Roadshow
Policyholder Advocate Roadshow Gets Warm Welcome in Wales read report » - Edinburgh Roadshow
Policyholder Advocate hits Roadshow Trail in Edinburgh read report » - Belfast and Dublin Roadshows
Roadshow Crosses Irish Sea to Meet Policyholders in Belfast and Dublin read report » - London Roadshow
London Finale for Nationwide Roadshow read report »
What the media say - National and Local coverage
Links to other media reports can be found in the updates
Thursday 25 October 2007
- The Economist
The Economist looks at the with-profits industry and the role of the FSA - link to article »
Monday 25 June 2007
- Daily Telegraph
Spottiswoode reveals Aviva carve-up team by Caroline Muspratt - link to article »
Sunday 17 June 2007
- The Observer
How to find the right home for orphans by Heather Connon. - link to article »
Wednesday 30 May 2007
- Money Mail, Daily Mail
Norwich Union with-profits policyholders want cash rather than extra bonuses when the insurer comes to distribute its estimated £5 billion inherited estate.
11 February 2007
- The Mail on Sunday
Windfalls at NU 'are not for sharing'
10 February 2007
- FT.com
Conflicts of Interest force Spottiswoode to replace Lovells - link to article »
2 February 2007
- Aviva
Aviva update on possible reattribution of inherited estate
26 January 2007
- The Birmingham Post, Business
Policyholders eligible for £4bn deal
25 January 2007
- Money Marketing
Focus on Protection
15 January 2007
- Aberdeen Press & Journal
Former gas regulator seeking a fair deal for policyholders
11 January 2007
- Money Marketing
Advocate Wants to Give Advice - Money Marketing
Clare Spottiswoode profile
10 January 2007
- The Herald
Capital Date For Policyholder Advocate
8 January 2007
- The Daily Telegraph (Business)
The Woman with a key to £4bn Treasure Chest
7 January 2007
- The Mail on Sunday
The Interview - The Mail on Sunday (Financial)
NU…wants control over the cash…in pursuit of…profits for shareholders - Scotland on Sunday
The Woman with £4bn to Share out
6 January 2007
- Financial Times (Money)
With-Profits bonus rates expected to fall further - Scotsman
Profile of Clare Spottiswoode by Rosemary Gallagher
2 January 2007
- The Herald
Spottiswoode Launches Consultation
Sunday 26 November 2006
- Sunday Telegraph
Will you get a share of Aviva's unwanted billions? - Teresa Hunter writes
'The whole question of inherited estates, how they are valued, and who owns what, is shrouded in uncertainty and lost in a mist of arcane insurance law and actuarial assumptions. It will be Spottiswoode's job to find a way through the labyrinth and draw up a scheme fair to all eligible customers.' - The Observer
Jill Insley comments 'Aviva has appointed a real consumer champion to fight the corner for 1.1 million of its policyholders, a decision that could make life quite uncomfortable for Aviva directors and senior management over the next year.'
Saturday 25 November 2006
- BBC Radio 4
Clare Spottiswoode interviewed by Paul Lewis of Money Box.
Thursday 23 November 2006
- BBC website - The rush for orphan assets. Jonathan Fry writes
"…policyholders should welcome the appointment of Clare Spottiswoode…"
"… Ms Spottiswoode was once described as ‘King Herod’ by the boss of Transco’ and ‘a latter day Boadicea’ by another gas executive."
"These monikers were earned as a result of her penchant for successfully challenging corporate giants such as British Gas and BT, several regulators, and various departments of the government."
link to article »
Wednesday 22 November 2006
- Daily Mail
"Aviva plans £3bn cashback from its orphan estate" - Tony Hazell says
"In Clare Spottiswoode investors have got a strong policyholder advocate who should fight their corner well to ensure a good outcome." - City AM
"NU acts to solve £4bn dilemma" - Daily Mirror
"Windfall Tsar to argue for customer dividends" - Daily Express
"Norwich plans £4bn payout" - Zoe Wood writes
"Aviva believes the money belongs to its shareholders and has yet to agree how it should be shared." - Comment from Peter Cunliffe
"She must ensure long-suffering policyholders do not lose out at the expense of shareholders." - Ian Lyall writes
"Policyholders and investors could be in for substantial windfalls after Norwich union’s owner Aviva set out plans to return up to £3bn of unallocated assets lying dormant in its coffers." - Deutsche Bank’s Oliver Steel reckons
investors could get as much as 53p a share or £1.3bn from the orphan estate, while Roman Cizdyn at Oriel Securities is going for a more conservative 30p a share, or £760million.
"Meanwhile savers… would receive cash windfalls of ‘hundreds rather than thousands of pounds’ according to Aviva." - Financial Times
"Aviva policyholders stand to gain £3bn" - Daily Telegraph
"Spottiswoode talks to Aviva on windfalls." - Caroline Muspratt writes
"Insurance giant Aviva is closer to making a decision which could see 1.1m customers receive windfall payments…" - The Times
"Aviva Windfall" - The Guardian
"Norwich union savers may be offered cash to give up future payouts" - Rupert Jones writes
"...Ms Spottiswoode’s job is to secure the best deal for policyholders. She is launching a consultation exercise and will host roadshows in five cities and seek the views of policyholders via online and telephone surveys.
"There appears to be plenty to talk about. Even the size of the inherited estate seems to be disputed with Aviva putting the figure at £3bn and Ms Spottiswoode estimating it at about £4bn." - The Independent.
"Former gas regulator to be paid £250,000 to unlock Aviva assets." - James Daley writes
"Ms Spottiswoode marked the first official day in her new job making it clear that she would not shy away from fight if she could not come to an agreement with Aviva over how the estate should be redistributed.
"She said ‘if Aviva doesn’t offer enough, I’ll just say to policyholders they’re better off not taking the deal.
"Which? (formerly the Consumers’ Association) said yesterday that it would be vocal in the debate with Aviva to ensure that policyholders received a full 90per cent of any reallocation."
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