Closed book fund value rose £11bn last year - papers 8th Sept

This suggests many of the closed with-profits books could be worth even more and have a greater takeover value as there is “a strong chance” Equitable Life’s £10bn closed with-profits fund will be acquired, suggests Darryl Ashbourne, director of KPMG’s corporate recovery insurance solutions. “I’d expected it to be the target of quite a number of players,” he said. “I don’t see Equitable continuing in isolation in the long term.” Ashbourne said acquiring Equitable Life’s troubled with-profits fund would allow a new entrant to the closed life market to compete with the market leaders Re...