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Sky News

The end is finally nigh for Equitable Life
Sky News
No bidders emerged but, over subsequent years, parts of Equitable were sold off, with the last of its with-profits annuity policies being transferred to Prudential by 2008. Years of legal wrangles followed as Equitable sued not only its former ...
Equitable Life sale to bring windfall for policyholdersMoney Marketing
Equitable Life sold for £1.8bn to insurer LCCGFinancial Times

all 31 news articles »


Citywire.co.uk

Equitable Life to pay last windfall and close next year
Citywire.co.uk
'The benefit of bringing Equitable to an end sooner rather than later is that we can capture for with-profits policyholders the near record high values of the investments backing their policies,' he said. ... The sudden decline of a leading pension ...



The Times

Finally, relief for Equitable savers
The Times
2001 Halifax agrees to buy most of Equitable Life's assets in return for a £1 billion payment into the insurer's with-profits fund, from which annuity payouts are financed. The deal is backed by 98 per cent of Equitable policyholders, who receive a 17 ...

and more »


Citywire.co.uk

Standard Life plots £1.75bn Phoenix sale shareholder sweetener
Citywire.co.uk
In February SLA announces the £3.2 billion sale of its life assurance business to Phoenix which will see its workplace pension business, retail Sipp and legacy products such as its annuity and with-profits book transferred over to Phoenix. The ...



This is Money

End this betrayal of savers: Pensioners left unable to afford even a coffee with friends after ministers broke ...
This is Money
The couple survive on the state pension and two small annuities paying just over £80 a month. Their annuities are with Legal and General, which last year saw profits jump to £2.1 billion from £1.2 billion on the back of increased annuity sales. But it ...



Employee Benefit News

Views Upgrading individual annuity contract plans to slash rising costs
Employee Benefit News
Yet, many non-profit employers are trying to address the needs of the present employment marketplace with a retirement platform that is rooted in the past: the individual annuity contract (IAC). Over the past several decades, millions of academic and ...



Pension Income: As simple as possible but as complex as necessary
IPE.com
These are a hybrid between target date funds (TDFs) and life cycle products (which use glidepaths that reduce equity and so-called risk asset exposure over time) and smoothed income annuities. A life insurance company does .... Several decades later in ...

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Forbes

China's Ping An, Germany's Allianz Top The World's Largest Insurers On Forbes 2018 Global 2000
Forbes
Mega deals and IPOs are shaking up the global insurance industry in 2018. First quarter announcements: France's AXA to acquire Bermuda-based XL Group for $15.4 billion, and U.S.-headquartered AIG to acquire Bermuda-based reinsurer Validus for $5.6 ...



InvestmentNews

MetLife, Brighthouse sued for $500 million over missing pensioners
InvestmentNews
In December, MetLife disclosed that it had failed to pay pension benefits to tens of thousands of employees covered by its group annuity contracts, which employers purchase to offload pension liabilities to insurance companies, which become responsible ...

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