LONDON, Oct. 28 (UPI) -- Britain's giant Aviva insurance company is planning to distribute as much as $5.8 billion in surplus cash to customers.
Aviva said it planned to appoint a policyholder advocate to represent customers during inquiries into the division of $5.8 billion in surpluses from two of the company's for-profit insurance funds, the CGNU Life and the Commercial Union Life Assurance funds, the Independent reported Friday.
The surplus has built up over a number of years from profits or unclaimed policies in which ownership is usually not clear.
Aviva was created from the merger of Norwich Union with CGU, itself created from the merger of General Accident and Commercial Union.
Policyholders with savings such as pensions and endowments in the General Accident and Commercial Union funds stand to benefit.
