UK insurance - Aviva welcomes FSA's revised with-profit rule changes

London-based insurer Aviva has welcomed the move by the UK's Financial Services Authority (FSA) to change the rules governing the use of policyholder assets for compensation payments over mis-selling and management failures in with-profits policies as a massive improvement over the almost unworkable initial proposals.

The FSA's amendment to with-profits rules means any compensation payments to policyholders or former policyholders arising out of operational errors, including mis-selling, after

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