View more on these topics

Equitable boss urges investors to accept £2bn payout

Equitable Life chief executive Chris Wiscarson says policy holders should accept a settlement of £2bn from the Government.

Wiscarson told Sky News: “If we take the number of £4bn-£4.8bn and go to the lower end of that, what can the government really afford? £2bn for policy holders – that would be a great start.”

Wiscarson said that thousands of policy holders have written to Treasury financial secretary Mark Hoban, reminding him that he agreed with the Parliamentary Ombudsman Ann Abraham’s recommendations that a reasonable payout for the losses would be between £4bn and £4.8bn.

Wiscarson’s comments come hours ahead of a parliamentary debate around the issue and a vote over a bill which will allow the Treasury to incur the cost of any payout.

The amount available for the policy holders will be announced as part of the Comprehensive Spending Review on October 20th.


Munich Re appoints new CEO

Munich Re has announced that Andrew Rear will succeed Jonathan Ludbrook as chief executive with responsibility for the UK, Irish, African and Australian life reinsurance markets. Ludbrook is retiring after almost 29 years with Munich Re. Rear currently leads the EMEA insurance practice at consultants Oliver Wyman, and is a UK actuary. He begins his […]

Number of new arrears cases fall for sixth consecutive quarter

The number of new arrears cases have fallen for the sixth consecutive quarter, according to the latest mortgage lending statistics from the FSA. The number of new cases fell 8 per cent from 40,544 in the first quarter of 2010 to 37,248 in the second quarter. The total number of arrears cases also fell, with […]

Nick Gartside quits Schroders

Schroders head of global fixed income Nick Gartside has quit the firm after eight years to join JPMorgan Asset Management, Money Marketing understands. Bhupinder Bahra and Frederick Bourgoin have taken Gartside’s responsibilities on the Schroder/Schroder ISF strategic bond fund, Schroder ISF global bond and the Schroder ISF global inflation bond. The pair will also run […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Whats good for the goose is good for the Gander!
    If Equitable Life pensioners, robbed of their just rights are at the mercy of the public sector to decide their fate, then they all in turn should accept the same deals where their inflation proof pensions are concerned and at the same time they should work beyond their retirement age of 60!
    Many of the Equitable Life pensioners (of those still alive) have had no other option than to carry on working and thus continue to pay towards the pensions of those employed in the Public Sector.
    Pay up the full amount owing to those who are left and also the dependents of those who have passed away.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm