Financial Services Industry
Industry: Email Alert RSS FeedNow focus turns to the remaining policyholders.
Financial Adviser, October, 2007
It appears hard to see why the Prudential with profits annuity transfer from Equitable Life would not receive member ascent and wrap up by the end of the year.
What is less clear and perhaps more intriguing is what will become of the remaining 350,000 with profits policyholders and their combined AGBP6m.
The board of Equitable Life has made its intentions clear.
Charles Thomson, chief executive of Equitable Life, said at the unveiling of the Prudential proposal: "Essentially this is a restructuring of the society. It simplifies what we have left.
"The risks attached to it are significantly less and a low risk company is likely to be more attractive to potential bidders in the market."
However, Tom McPhail, pensions...
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