Alba With Profits Life Assurance Policies

Alba

Ownership status

With regard to with-profits policies, Phoenix life assurance have taken over the management of the with-profits policies formerly managed by Alba. Phoenix life is part of the resolution group plc.

Range of policies

Alba offered many different types of with-profit policies. These included firstly the traditional with-profits policies which can be divided into three main headings; endowment, whole of life (bond), and pension. Alba also offered unitised endowment and pensions policies. Other types of policy included, corporate with-profits policies, which generally took a traditional approach, policies invested in the assured growth fund, policies invested in the capital guarantee fund and a deposit administration policy.

All policies taken out with Alba life, are now managed by Phoenix life, part of the Resolution group PLC.

Typical asset share

Asset	% Share
Fixed Interest	48%
Equities	32%
Property	9%
Other (mainly cash)	11%
	100%

Source: www.phoenixlifegroup.co.uk

Financial strength

Standard and poors

Credit rating (local currency) – BBB+ / Stable

Financial strength rating - BBB+ / Stable

Moody’s

Senior unsecured – Baa1

Bond implied - Baa2

With-profits return and bonus history

In recent years, with regard to annual bonuses, with-profits policies taken out with Alba have experienced bonus rates of 0%.

	3m return	6m return	1yr return	3yr return	5yr return
Crusader WP pension	1.5%	2.9%	5.4%	12%	18.3%
Unitised Post 95 Pension	0%	0%	0%	0%	1.9%
Crusader WP Perf	1.0%	1.9%	3.7%	8.8%	13.8%
LAS WP 6.5% Life	0%	0%	0%	0%	1.6%

Source: www.trustnet.com

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