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Questions and answers

These were prepared to assist policyholder in coming to their decision about the Aviva offer to buy out policyholders interest in the inherited estates of CGNU and CULAC. The reattribution was approved in the High Court on 19 September 2009 (see ‘News & Articles')

123) Will the reattribution go ahead?

Policyholders are being asked to decide on their reattribution offer and the High Court will decide if it agrees to the reattribution and fund transfer going ahead. Clare is pleased that despite the stock-market turmoil affecting the value of the inherited estates, discussions have finished and a revised deal has been reached. Each eligible policy will receive a minimum of £200, based on the inherited estate being valued at £1.2 billion, this being the lowest valuation at which Aviva would expect to proceed with the reattribution. Voting packs, which are being issued in June, will contain the voting slip, guidance from Clare and the minimum amount you can expect to receive. Aviva has asked policyholders to return their completed voting forms in the envelope provided by 21 August 2009. If you have not received you voting pack by mid-June, please contact Aviva.