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Investor security on the Isle of Man

Royal Skandia provides saving and investment plans from the Isle of Man.

The Isle of Man is an established international finance centre with a stable and independent legal, political and regulatory framework.

All life assurance companies based on the island are closely regulated by the Isle of Man Government Insurance and Pensions Authority, which controls this type of business and imposes detailed reporting requirements.

The Isle of Man has a statutory compensation scheme, the Life Assurance (Compensation of Policyholders) Regulations 1991, which provides policyholder protection for policies issued by an authorised life assurance company based on the island.

Policyholders will be compensated if any life assurance company is unable to meet liabilities. Under the compensation terms, policyholders will receive up to 90% of the policy value less any contractual charges associated with the policy, with no upper monetary limit, no matter where in the world they reside.

The value of your Royal Skandia policy is linked to the value of bank deposits and investments generally managed by third parties such as banks and fund managers. If the provider of such bank deposits and investments ‘fails’ or is unable to meet its obligations, this particular compensation scheme will not cover such losses.

The Isle of Man enjoys full designated territory status under the United Kingdom Financial Services and Markets Act 2000, which means that the island's investor protection laws are regarded by the UK authorities as being at least as effective as those for the UK.