Parliament Website

Life Assurance And Orphan Assets

EDM number 762 in 1999-00, proposed by Andrew Love on 18/05/2000.

That this House is in favour of greater clarity in the attribution of the long-term assets held in the life fund of shareholder-owned insurance companies; recognises that the guiding principle in the allocation of surplus assets is that the reasonable expectation of the policyholders should be protected; notes the continuing controversy over the division of these assets between policyholders and shareholders and that this does not relate to mutual insurers such as Standard Life who are owned by their policyholders; expresses concern that these assets may be used to pay compensation for pension mis-selling where it may be more appropriate that the risk be borne by the shareholders; supports the comments of the Government Actuary that the actuarial profession is placing too much emphasis on shareholders and the life assurance industry is not doing enough to protect the interests of policyholders; and calls on the FSA, when the Financial Services and Markets Bill becomes law, to issue guidance and make rules for the protection of policyholders and potential policyholders of shareholder-owned insurance companies.

This motion has been signed by a total of 44 MPs.

Andrew Love18/05/2000EdmontonLabour Co-operativeProposed
Jim Dobbin18/05/2000Heywood & MiddletonLabour Co-operativeSeconded
David Kidney18/05/2000StaffordLabourSeconded
David Drew18/05/2000StroudLabour Co-operativeSeconded
Tony McWalter18/05/2000Hemel HempsteadLabour Co-operativeSeconded
Ashok Kumar18/05/2000Middlesbrough South & East ClevelandLabourSeconded
Vincent Cable19/05/2000TwickenhamLiberal DemocratSigned
Andrew Dismore19/05/2000HendonLabourSigned
Harry Barnes19/05/2000North East DerbyshireLabourSigned
Bob Russell22/05/2000ColchesterLiberal DemocratSigned
David Taylor22/05/2000North West LeicestershireLabour Co-operativeSigned
Donald Gorrie22/05/2000Edinburgh WestLiberal DemocratSigned
Norman Godman22/05/2000Greenock & InverclydeLabourSigned
Huw Edwards22/05/2000MonmouthLabourSigned
Paul Keetch22/05/2000HerefordLiberal DemocratSigned
Barry Jones22/05/2000Alyn & DeesideLabourSigned
Win Griffiths23/05/2000BridgendLabourSigned
Andrew George23/05/2000St IvesLiberal DemocratSigned
Jim Cousins23/05/2000Newcastle upon Tyne CentralLabourSigned
Eric Clarke23/05/2000MidlothianLabourSigned
Bill Michie23/05/2000Sheffield, HeeleyLabourSigned
Lynne Jones23/05/2000Birmingham, Selly OakLabourSigned
Jeremy Corbyn23/05/2000Islington NorthLabourSigned
Kelvin Hopkins24/05/2000Luton NorthLabourSigned
Mike Hancock24/05/2000Portsmouth SouthLiberal DemocratSigned
Desmond Turner24/05/2000Brighton, KemptownLabourSigned
Andrew Stunell25/05/2000Hazel GroveLiberal DemocratSigned
Bill Etherington25/05/2000Sunderland NorthLabourSigned
Clive Efford25/05/2000ElthamLabourSigned
John McDonnell25/05/2000Hayes & HarlingtonLabourSigned
Eric Illsley25/05/2000Barnsley CentralLabourSigned
Martin Smyth25/05/2000Belfast SouthUUPSigned
Ann Cryer05/06/2000KeighleyLabourSigned
Rudi Vis05/06/2000Finchley & Golders GreenLabourSigned
Lawrie Quinn08/06/2000Scarborough & WhitbyLabourSigned
Russell Brown14/06/2000DumfriesLabourSigned
Doug Naysmith15/06/2000Bristol North WestLabour Co-operativeSigned
Alan Simpson21/06/2000Nottingham SouthLabourSigned
David Crausby29/06/2000Bolton North EastLabourSigned
Peter Pike07/07/2000BurnleyLabourSigned
Terry Davis11/07/2000Birmingham, Hodge HillLabourSigned
Nigel Jones13/07/2000CheltenhamLiberal DemocratSigned
Mohammad Sarwar18/07/2000Glasgow, GovanLabourSigned
Irene Adams27/07/2000Paisley NorthLabourSigned

Download raw data as csv or xml.