Eq Life hands over AGBP1.7bn worth of with profits.

Financial Adviser, January, 2008

Equitable Life has completed the transfer of AGBP1.7bn-worth of with profit annuities to Prudential, benefitting about one fifth of its total policyholders.

The move comes ahead of a decision on the future of Equitable Life, which is expected later this year.

Prudential has now taken responsibility for administration of the pensions - including future payments - for the transferring with profits annuity policies, with effect from 1 January.

Equitable announced that in the next few weeks it expects to complete the compilation of a detailed specification of the remainder of the business - known as the 'data book'.

Vanni Treves, chairman of Equitable Life, said: "Whether we will run the society off or pass it to someone who can offer...

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