Selling An Equity and Law Endowment Policy (F.S.A. Guide )

Many complied, and Allied Dunbar, Eagle Star and Royal London deserve praise for their openness.

Others refused to answer or gave out-of-date figures: readers can draw their own conclusions. The roll-call of refuseniks includes companies big and small. The biggest were Legal & General, which has 1.1m endowments, and Friends Provident, which has 700,000.

Is your endowment provider one with a good or bad record? Check the list below to find out.

Abbey National Life: Launched in 1993, it has around 200,000 policies. Refused to disclose figures.

Allied Dunbar: Has 190,000 policies. As of January 2002, these split into red 55%, amber 30%, green 15%. In June 2001, the date used by many other life offices when giving figures, the breakdown was: red 41%, amber 25%, green 34%.

Axa Sun Life (includes Equity & Law): Has 260,000 policies. At December 2001 it was red 8%, amber 51% and green 41%

Barclays Life: Has 100,000 policies. "We believe it is not helpful to release an overall picture," a spokesman says.

Britannia Life (recently renamed Alba Life): 100,000 policies. As of June 2001, red 45%, amber 36%, green 19%.

Cooperative Insurance: Has 187,114 policies. As of end 2000, it was red zero, amber 8%, green 92%. After a 15% cut in endowment values announced this week, these figures are likely to worsen.

Eagle Star: Has 190,000 poli cies. As of January 2002, red 42%, amber 44%, green 14%. In June 2001, the date used by many other life offices when giving figures, the breakdown was red 40%, amber 20%, green 40%.

Friends Provident: Has around 700,000 policies, many sold via a link-up with Abbey National. Refuses to disclose red, amber or green. In February it cut endowment maturity values by around 17%.

Guardian (formerly GRE): Policies are administered by Scottish Equitable group. Has 230,000 policies, which are: red 25%, amber 37% and green 38%.

Legal & General: Has 1.1m policies. Refuses to disclose how many are red, amber and green. "We are not publicising the split because there is a danger it will be misunderstood," a spokesman says. In February, it cut endowment maturity values by around 15%.

Liverpool Victoria: Has 7,500 policies. It promised that all endowments will pay off mortgages - and has not attached any investment return strings.

Lloyds TSB Life: Has around 300,000 policies. In June 2001, they were: red 31%, amber 58%, green 11%.

HSBC (formerly Midland Life): Has 80,000 policies. Refuses to disclose how many are red, amber and green. "We don't regard it as representative of our mortgage book. It is a challenging issue for us," a spokesman says.

Norwich Union (including General Accident, Commercial Union and other companies now under the CGNU group): Has 1.2m policies across the group. Does not disclose how many are red, amber and green, because it offered a promise two years ago to stand by endowments as long as investment returns are 6% a year - even if they are red policies currently needing growth of 8%-plus a year. But it has emerged that the promise only extends to policy values on December 31, 1999. If as a result of a review since then a shortfall emerges, it is not covered by the promise. "The numbers in shortfall are likely to have widened since then," says a spokesman.

Pearl: Has 140,000 policies held by 100,000 customers. Red 32%, amber 32%, green: 36%. Recently instituted an endowment "promise" to meet any shortfall as long as investment growth averages 6% a year.

Prudential: Has 230,000 policies. Of re-projection letters sent out over the past 12 months, the breakdown was: red 6%, amber 41%, green 53%.

Refuge Assurance: Has 25,000 policies. As of December 2001, red 52%, amber 28%, green 20%.

Royal London: Has 86,000 policies. None are red, 14% are amber and 86% are green.

Royal & Sun Alliance: Has around 600,000 policies. As of end 2000, red 14%, amber 39%, green 47%. Will begin new re-projection mailings this year.

Scottish Amicable: Has 778,000 policies. As of June 2001, they stand at: red 2%, amber 48.5%, green 49.5%. The next re-projection reviews will begin in April 2002.

Scottish Equitable: Has 50,000 policies. As of June 2001, the breakdown is: red 10%, amber 17%, green 73%.

Scottish Life: Has 120,000 policies. As of December 2001: red 13%, amber 41%, green 46%.

Scottish Mutual: Has 57,000 policies. As of June 2001: red 6%, amber 25%, green 70%.

Scottish Widows: Has 260,000 policies. In June 2001, red 7%, amber 61%, green 32%.

Standard Life: Has 1.6m policies. The insurer has promised to stand by all endowments as long as investment returns are 6% a year. It says around half of its policies would have fallen into red or amber categories. Standard Life's next mailing to policyholders with re-projections will be in 2003.

United Friendly: Has 12,000 policies. As of December 2001, their status is: red 50%, amber 25%, green 25%.