Scottish Widows holds policy bonus rates

31 January 2005
Scottish Widows with-profits policyholders have had their bonus rates held for the first time in several years.

After poor stock market performance from 2000 to 2003, the insurer's 1.2 million policy-holders had to deal with three years of bonus cuts.

But the with-profits fund performed well during 2004 and finishing high enough to allow the bonus cutting trend to be stopped.

"Our with-profits fund earned 10.5 per cent in 2004 and the benefits of this are being passed on to policyholders through our bonuses," Scottish Widows, the life assurance arm of Lloyds TSB, said in a statement.

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