UK’s Equitable seeks compromise deal on liabilities
LONDON -- Troubled UK mutual life assurer Equitable Life is continuing efforts to seek a compromise deal over its liabilities after a poll of its members showed a majority in favour of a settlement.
Equitable, the world’s oldest mutual life assurance company, is still solvent after falling foul of a combination of legal, strategic and interest rate risks.
But in December it closed its doors to new business after a decision last year in the House of Lords, Britain’s highest court, left the company
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