Endowments in demand

CUTS in bonuses on with-profits endowment policies are feeding through to prices fetched for these policies in the second-hand market.

But Foster & Cranfield, the endowment auctioneer, says it is still selling policies for 25 to 30 per cent more than the surrender values quoted by insurance companies. It now plans to hold auctions every fortnight rather than every month. The next will be on 21 January at the Connaught Rooms, Great Queen Street, London WC2, at 11am.

Details on 071 608 1941.