The Financial Conduct Authority (the “FCA”) requires all insurance firms to set out the way in which they run their with-profits funds in a document called the “Principles and Practices of Financial Management” (the “PPFM”).

When you invest in a with-profits policy, you are entrusting your money to the present and future financial management performance of the company with whom you invest. The Principles cover the company’s high-level approach to the management of with-profits investments. The Practices describe in greater detail how the Principles are applied.

The PPFM documents are very comprehensive as they are designed to provide the necessary information for advisers and the Financial Conduct Authority to appraise the management of a with-profits fund. We have also produced “Customer Friendly” versions of the PPFM (the “CFPPFM”).

If you hold a with-profits policy issued by Save & Prosper Pensions or Save & Prosper Insurance, please click here to see the PPFM and the CFPPFM and other documents relating to these funds.

All of Countrywide Assured’s remaining with-profits business is re-assured to ReAssure (formerly know as Guardian Assurance plc). In 2016, Guardian were bought by Swiss Re. Swiss Re are a major financial services firm who manage policies through its UK life company, ReAssure. From June 2016, Guardian changed its name to ReAssure Life. Under the reassurance arrangements, ReAssure make all decisions regarding bonus declarations, fund investment policy and surrender values (including Market Level Adjustments). However, the policies are administered by Countrywide Assured and we retain ultimate responsibility for the provision of the benefits under your policy. You can view the current PPFM by clicking here.

The PPFM and CFPPFM documents for these funds are prepared by ReAssure. Please therefore refer to the table below to identify which Guardian (ReAssure) policy is the equivalent of your own Countrywide Assured policy and select the appropriate link to view the relevant CFPPFM.

Countrywide Assured Policy Type Equivalent Guardian Policy
Asset or Treasury Traditional Life Assurance With-profits life assurance policy
Privilege (With-profit plans with a guaranteed pension) Versatile Individual Pension Plan traditional with-profits pension policy
Privilege II (Unitised with-profit pension plan) Choices Unitised With profits Unitised with-profit pension plan


Oversight of all of the Countrywide Assured With-Profits business is provided by an independent Committee that reports to the Board of Countrywide Assured. If you would like any further information about this Committee and its responsibilities, please click here to see the Committee Terms of Reference document :-

The Terms of Reference for the Countrywide Assured With-Profits Committee

ReAssure have also produced an annual report detailing how they have complied with the PPFM, Guardian Assurance With-Profits Fund report to policyholders..

This report is supplemented by our own report, which will comment on ReAssure’s compliance with the PPFM from the standpoint of the Countrywide reassured business.



Countrywide Assured plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.