ABI supports investigation into rights issue fees
by Gill Montia
Story link: ABI supports investigation into rights issue fees
The Association of British Insurers has pledged its support to the Institutional Investor Council, a new body to be set up by the Institutional Shareholders’ Committee (ISC). The ISC is a forum that allows the UK’s institutional shareholding community to exchange views and, on occasion, coordinate their activities in support of the interests of UK [...]
FSA investigates former Resolution directors
by Gill Montia
Story link: FSA investigates former Resolution directors
The Financial Services Authority (FSA) is investigating circumstances surrounding the sale of closed life consolidator, Resolution, to Pearl Assurance. When the deal was announced in November of 2007, Pearl (a rival closed life fund consolidator) was Resolution’s largest shareholder. Its victory followed a takeover battle lasting months in which Pearl finally triumphed over Standard Life. [...]
Equitable Life drops sale of with-profits fund
by Gill Montia
Story link: Equitable Life drops sale of with-profits fund
Equitable Life, the troubled mutual life insurer that came close to collapse eight years ago, has dropped the sale of its £6.8 billion with-profits fund. The company put itself up for sale in March of this year, having already transferred the bulk of its fixed pensions business to Canada Life. However, the insurer says it [...]
Disciplinary board to investigate Equitable Life actuaries
by Gill Montia
Story link: Disciplinary board to investigate Equitable Life actuaries
The Accountancy and Actuarial Discipline Board (AADB) is to investigate the way in which government actuaries advised the regulators of mutual life insurer, Equitable Life. The board will focus its enquiries on the advice given by the Government Actuary’s Department (GAD), between December 1990 and April 2001. Equitable Life was founded in 1762 and grew [...]
