Norwich Union cuts bonuses

The UK's largest life insurer has announced it is cutting the bonuses on long-term savings policies. Norwich Union, now part of insurance giant Aviva, said it was reducing the final bonus paid on its with-profits policies by about five per cent from August 1. The move will see the final payout on a 25-year endowment policy with monthly premiums of £50, which matures next month, fall to £85,518 from £89,787.

In chair: William Salvin, a land agent, of Barnard Castle, has been re-elected chairman of the North-East branch of the Country Land and Business Association. He is a member of Teesdale District Council, for Startforth East, and is leader of the Independent group on the council. He is a member of the Royal Institute of Chartered Surveyors and manages estates in County Durham and North Yorkshire. John Cresswell, of Belford, Northumberland, was re-elected vice-chairman.

FIRST FIRM: Darlington accountants Gregory Mitford Snowball (GMS) has become the first firm to join UK top 25 accountancy and professional services group, Vantis, since it began trading on the alternative investment market of the London Stock Exchange. GMS has become Vantis GMS and will work closely with one of the Vantis founding firms, Vantis Walkers, which has offices in Hartlepool, Middlesbrough, Stokesley and Redcar.

DATING FIGURES: Dating agencies firm OneSaturday's turnover and membership has gone up this year. The preliminary financial statements for the firm, the UK's only quoted dating agency, which owns the Dateline, Elite Introductions and Club Sirius brands, showed there was an increase in turnover of 16 per cent to £5,059,000 and membership was up six per cent.

RAIL SETTLEMENT: GB Railways, the group that operates Anglia Railways, has settled a claim for losses resulting from the Hatfield accident amounting to about £500,000, it said yesterday. The train operator saw a sharp downturn in passenger numbers following the crash in October 2000, and had been pursuing claims against its insurer, Gerling Insurance Group, for losses following the accident. It has now settled these claims