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The Value of With-Profits for Consumers Working Party – Update as at December 2019

The Value of With-Profits for Consumers Working Party have published their final report, detailing the findings from their third phase of research, which can be found on the IFoA Life Working Parties’ webpage alongside previous reports and presentations.

Phase 3 invited providers to undertake a survey of their own with-profits policyholders to allow the working party to analyse and compare the views of policyholders across different with-profits funds. In appreciation of their contribution, each participating firm received a bespoke report in July and the working party have now published an anonymised version of the report to share their findings and recommendations with the wider industry.

The working party would like to encourage with-profits providers to review the findings in this and earlier reports to consider what actions may be appropriate for their funds. Providers may also choose to perform the survey on their own with-profits policyholders to see how they compare to peers.

Finally, as this concludes the research of the Value of With-Profits for Consumers Working Party, members would like to thank all the firms that contributed to the research, members who participated, and the IFoA for their support over the last three years.