Equitable admits losses are even higher - papers 26th June

EQUITABLE Life policyholders have been told the terminal bonus and maturity values of their policies are worth even less than they were two months ago, and may be 25% lower than previous statements suggested. A great piece of reporting in the Scotsman reveals that letters sent to around 38,000 members by Equitable's chief executive, Charles Thomson, indicate with-profits and unit -linked policies statements sent out in April were "incorrect". Officials are believed to have said they are "very sorry", however, policyholders are now discovering their terminal bonuses could be at lea...