Norwich Union (NU) is not happy about the way talks are going on how to distribute 'inherited assets' and is threatening to walk out of negotiations.

NU, which is now under the umbrella of insurance giant Aviva, is apparently decidedly underwhelmed at the way it is being harangued from all quarters over its reported offer to dish out around £2,000 to relevant policyholders.

The row is to do with the 'surplus' of the with-profit funds of Commercial Life and General Accident when they were taken over in the 1990s.

Norwich Union says the offer is fair.

Which? consumer magazine says it is not and there lies the rub.

Clare Spottiswoode, the independent expert who was been brought in to sort out the mess, is reportedly bogged down in the legal technicalities of it all, thereby prolonging the agony for all concerned.

A spokeswoman for Ms Spottiswoode told the Guardian newspaper: "We have done nothing to delay the process other than to legitimately put forward concerns of policyholders."

A spokesman for Norwich Union, told the Guardian, "the sooner a deal is struck the better it is for the majority of policyholders".

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