NORWICH UNION Bond Holders

  • Anonymous
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Posted: Wed, 29/10/2008 - 12:31

Would anyone know if there is a link related to N.U. (NORWICH UNION) Bond holders? I have seen plenty of consolidated info re SKANDIA but not NU

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Norwich

  • Anonymous
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  • Wed, 29/10/2008 - 19:27

I am in the same boat with the Norwich.

I wrote to Andrew Moss (MD of Aviva) and received a reply today. HIs assistant has passed my correspondence to Mark Hodges, Chief Exec 0f Aviva Life Business. Who I am assured will 'revert' to me.

One of the points I raised regarded the duty of care I felt NU owed me. I highlighted the fact that since the collapse of KSF, I have received 3 letters - one informing me of the loss, and two informing me of increases in the fees relating to my Bond !!

I have serious concerns that those of us who are being treated as Corporate accounts, are deep in the mire. Unlikely to reap any compensation, and at the back of the queue should the bank go into liquidation. The Norwich appear to be only interested in passing the buck to the IFA, whom I firmly believe acted upon the best information available to him, when investing in the KSF.

In a fair and reasonable world, The Norwich would assure me that my life savings are safe. Sadly, that seems to be a step too far.

Should anyone be thinking of taking legal action (once the dust has settled), I will be more than willing to join in.


Norwich Union

  • Anonymous
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  • Thu, 30/10/2008 - 17:04

I too have written to Mr Moss today and the MD in Dublin from where my bond was adminstered. In advance of legal action there is always recourse to the Finacial Ombudsman Scheme (I hope?) though the Dublin connection might be a problem in this respect?
Very happy to discuss further actions further down the road?


NU BONDS

  • Anonymous
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  • Wed, 29/10/2008 - 13:17

I too am involved in this (up to my neck!) as a result of a NU International Premier Portfolio Bond. Currently disgusted at the lack of communication save the sole letter which came out within a few days of the crash. Happy to share any information with fellow NU 'refugees' if required.


NU Bonds

  • Anonymous
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  • Wed, 29/10/2008 - 18:53

I have requested copy of NU contract with KSF but they wont release it. Anyone any suggestions how we could get a copy


Nu Bonds

  • Anonymous
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  • Wed, 29/10/2008 - 18:58

Its the contract [of insurance] between you and NU that is required as a first step.
Also CRUCIAL are the advice letters and representations made by your IFA
Put the request in writing to NU and also your IFA.


NU Bonds

  • Anonymous
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  • Wed, 29/10/2008 - 18:49

I think your best 'line of enquiry' is your IFA, I really do.
If you have an advice letter, why not annoymise it and post it here.
If these advisers weren't acting on any execution only basis they cant escape unless they have explained these matters properly.


NU BOND - Contract between NU & KSF-IOM

  • Anonymous
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  • Wed, 29/10/2008 - 19:00

My IFA has also tried to obtain a copy but NU refuse sighting confidentiality


NU Bond - Contract

  • Anonymous
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  • Wed, 29/10/2008 - 19:07

Your IFA is trying to put you off the scent.
Its the contract between you and the Insuarnce company that is important
but CRUCIAL is the advise letter(s) from your IFAs as they may have made representations that re incorrect or not given you sufficient warnings


URGENT MESSAGE FOR BONDHOLDERS

  • Anonymous
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  • Wed, 29/10/2008 - 17:17

Paul McMillan at Money Marketing (a key financial services publication) is interested in talking to people who have been sold into KSFIOM via offshore bonds. He is looking for information regarding how they were sold, in particular examples of literature used and statements made.

Please email paul [dot] mcmillan(?)centaur [dot] co [dot] uk

Please title the email 'Your request to offshore bondholders'

He is expecting your emails so please contact him asap with scans of brochures or statements you have that were used by IFAs and/or investment companies during the sales process.
THIS WILL BE GREAT PR FOR US ALL SO PLEASE ACTION ASAP

reply


All bondholders have common issues

  • Anonymous
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  • Wed, 29/10/2008 - 18:27

It would seem a good idea for the site admin to place all bondholders within the same category where info can be shared which is relevant rather than separating into the individual companies involved.