Equitable Life

Treasury Secretary Ruth Kelly MP today received a rather tame grilling by the members of the Treasury Select Committee, as she was accused not only of trying to shift the blame for the Equitable Life debacle to someone else but for also suggesting the...

Aegon Asset Management is dismantling its equity team and effectively clearing out 13 members of staff, says this morning's Scotsman.

Current and former Equitable Life policyholders have filed a formal complaint with the European Commission, which they hope will force the UK government to pay compensation.

EQUITABLE LIFE unsurprisingly dominates the headlines and all the front pages this morning, after yesterday's long-awaited publication of the Penrose report.

Government departments responsible for UK financial services regulation and the subsequent Equitable Life crisis were deemed "superficial" and "inconsistent" into their handling of the mutual society's financial affairs, according to Lord Penrose's report....

Equitable Life's policyholders were kept in the dark for 12 years before they were informed the cost of annuity guarantees (GAR) were taken from their terminal bonuses.

Financial secretary to the Treasury, Ruth Kelly MP, says the report into the near-collapse of Equitable Life places blame for its weakened financial position largely on the former appointed actuary and the society's managment regime.

GOVERNMENT OFFICIALS will spurn policyholder calls for government-sponsored compensation later this afternoon, suggests the FT, which appears to have seen an advance copy of the long-awaited Penrose report into the near-collapse of Equitable Life.

Lord Penrose has on several occasions within his report accused Roy Ranson, former appointed actuary at Equitable Life between 1992 and 1997, of "maxwellisation" and of presenting a misleading picture of the company's finances to the board.

The Penrose report into what went wrong at Equitable Life is being published on Monday by Ruth Kelly MP, the Treasury has just confirmed.