Norwich Union updates its image with Penrose

Norwich Union has appointed Penrose Financial to raise awareness of the modernisation of its range of unit trust products.

Norwich Union has appointed Penrose Financial to raise awareness of

the modernisation of its range of unit trust products.



Penrose will handle PR for the proposed conversion of 18 of its 21 unit

trusts into an Open Ended Investment Company (OEIC). It will target

Norwich Union’s 34,000 direct unit trust and Pep holders with the

message that OEICs are more flexible and straightforwardly priced than

unit trusts.



Norwich Union wants the conversion to go ahead in November but the move

is dependant on the votes of the unit trust holders. Penrose will target

individuals and the independent financial adviser market through

financial titles and national press.



Shona Prendergast, a partner at Penrose, said: ’We will provide an

explanation of what is happening. It’s not a complicated issue but it

will mean unit trust holders will have different products.’



Penrose, which was formed earlier this year by four former employees of

Ludgate Communications, pitched for the business against one other

agency. Norwich Union uses QBO for ongoing work on its insurance and

healthcare products.



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