NU. Nufcor

RNS Number:5595D
Norwich Union PLC
11 January 2000


NORWICH UNION'S PLANS FOR STAKEHOLDER PENSIONS

This morning Norwich Union hosts a presentation for analysts
on stakeholder pensions and its response to the government's
proposals.

Norwich  Union is confident that it will be able to  respond
to  the challenge presented by stakeholder pensions in a way
that  will enhance its position in the UK long-term  savings
market while increasing shareholder value.

Norwich Union believes that achieving profitable success  in
delivering  pension products that will meet the government's
criteria  will  be  a  challenging  task  for  all   pension
providers. The strategies adopted for profitable growth will
determine the number of mainstream pension providers able to
maintain their position in this competitive market.

The  introduction  of stakeholder will  have  a  fundamental
impact  on  all pension product design and distribution,  as
well as intermediary remuneration and the use of technology.
While Norwich Union intends to launch a stakeholder product,
it  intends to focus its efforts on new versions of  defined
contribution   products   that  will   reflect   stakeholder
principles  but  which will be targeted at  customer  groups
which value wider choice and can afford higher, and so  more
profitable, levels of regular contributions.

Norwich  Union  will  continue to  strengthen  its  existing
stakeholder-friendly  offering  throughout  2000,  embracing
stakeholder principles and making use of new technology.  It
anticipates  that  this  new  generation  of  products  will
provide  better value for money than stakeholder  for  their
target sectors.

Norwich   Union   is  keen  to  assist  intermediaries   and
appropriate   affinity   groups   to   identify   profitable
opportunities  for growth and to support them with  creative
propositions  in  a  stakeholder  environment.  These   will
include  the ability to bespoke the product, technology  and
marketing support.


Analyst contact: Rebecca Burrows on 01603 680117
Media contact: James Duffell on 01603 680874

END

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