AMP has written to all London Life and National Provident Life with profits policyholders with bad news.
AMP have been in the press regularly over the last few weeks due to the decision to split the UK and Australian operations and also to move away from equity investments in their With Profits funds.
London Life policyholders received letters that said: "future annual bonuses are likely to be less than has historically been paid, and will be zero for many policies"