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To sell an Australian Mutual Provident endowment
policy use the flashing button at the top of this page.
Australian Mutual Provident bought Pearl Assurance in
1990 which, at the time, was the largest takeover of a British financial
group by an overseas buyer.
In 1996, Australian Mutual Provident won regulatory approval to take
£960million of Pearl's orphan assets - the money built up in reserve because
Pearl had been conservative in paying bonuses.
Critics accused Australian Mutual Provident of using Pearl to fund its other
ventures, including buying up other UK insurers such as London Life and NPI.
When the stock market crash came, Pearl was pushed uncomfortably close to
its minimum solvency margins, and Australian Mutual Provident closed the
fund, selling off most of its equities, and replacing them with cash and
bonds.
Australian Mutual Provident has since spun off Pearl, London Life and NPI
into a separate company called HHG, which was floated just before December
2004.
Selling endowment
Selling endowment to one of only six endowment policy traders that
are members of the Association of Policy Market Makers, can be
achieved by using the "sell endowment" link at the top of the page, or
by clicking here
The information on this web site is intended as
"information only" and should not be taken as "advice".
If you are unsure about what to do, if anything,
about your endowment policy, you should consider taking advice from an
independent financial adviser who is regulated by the Financial Services
Authority
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