Fewer than one in 10 mortgage endowments with Norwich Union, the UK’s biggest insurer, are on track to repay the loans taken out on them. Financial Times

Norwich Union, the brand under which Aviva trades in the UK, said only 9.7% of mortgage endowment policies were on course to repay the home loans they were taken out to cover, a reduction from its previous estimate of 10.5%.

The remaining 90.3% were likely to face a shortfall, up from 89.5% previously.