NU delays pension closure offshore until June

Originally the insurer said it would no longer accept any new pension and annuity business, both corporate and individual, in Jersey, Guernsey and the Isle of Man from the 1 February. However after the original announcement at the beginning of January, Norwich Union says feedback from customers and advisers in these jurisdictions mean it will continue to provide quotations for new business up until 1 June, to “reduce pressure on both customers and advisers”. The insurer says it made the decision to withdraw from the Crown dependencies following a strategic review, as the different regul...