Hi °C | Lo °C Two-thirds of policyholders at insurance giant Aviva have so far voted in favour of accepting a share of a £500m payout, it was disclosed today.
The group said 70% of its one million eligible policyholders had voted on its reattribution offer to date, of which 96% have voted in favour of it.
Under the offer policyholders are being offered a cash windfall in exchange for giving up their rights to any future redistribution of the surplus assets that have built up in the group's with-profits funds.
Those who have not yet voted have until Friday August 21 to decide whether or not they want to accept the money.
Each customer is able to make their own decision on the issue, and those who opt to decline the offer or policyholders who do not vote, will retain their rights to any future redistribution.
The payout will see 90% of eligible policyholders receive between £200 and £1,150, with the remaining 10% getting more.
The group had originally hoped to pay out a minimum of at least £400 per person, but pulled the offer in February due to steep stock market falls.
Aviva hopes to start sending payments to people who vote in favour of the offer from November 2009.
