As a customer owned business offering good value products at a fair price, Engage Mutual’s main aim going forward from the ruling will be to ensure that it does not result in an automatic, collective price increase for customers.
As such, we will not be making any immediate changes to our products and prices. Any changes will fully consider the potential effect on customers before they are made.
Engage Mutual’s implementation of changes in response to the Gender Directive ruling will ensure that the necessary measures are in place well before the December 2012 deadline. We will aim to ensure that customers are fully informed of any changes and their implications at that time.
Our current understanding is that the ruling will not impact our existing life insurance and annuity customers. However further clarification is required on the application of the ruling during the transition phase, and there is also some uncertainty around potential retrospective application to policies sold from 21 December 2007.
As and when the above situation is resolved we will communicate any resulting changes that may affect Engage Mutual and its customers.
For further information please contact:
Tel: 01423 855245/07794 283788