Pru shelves reattribution proposal - Niche Market Recruitment - Emu Consulting

Prudential has shelved plans to carry out a reattribution on its with profits policy, following months of actuarial modelling.

The news comes as rival life office Norwich Union enters a 19th consecutive month of negotiations over the reattribution of its inherited estate with policyholder advocate Clare Spottiswoode.

Referring to mathematical modelling - which took into account more than 250 different policy types, covering more than £4m policies - Nick Prettejohn, chief executive of Prudential, concluded that going ahead withthe reattribution of the with profit sub-fund - valued at £8.7bn at the end of last year - would not be in the best interests of policyholders or the company.