the process whereby the company offers to buy out the rights or expectations of policyholders in relation to a possible future distribution of the inherited estate. Policyholders are given a policyholder incentive payment if they choose to give up their right to participate in any future distributions from the inherited estate. The position of policyholders who choose not to accept the offer remains unchanged. Following the reattribution, the inherited estate which is attributable to policyholders voting in favour of the reattribution remains available to support smoothing and investment flexibility, but the estate becomes owned 100 per cent by shareholders. If any part of the reattributed estate is no longer required to support the business, it may be released to the shareholders.