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Newspaper Article
Equitable deal talks
2001
Overview
The society aims to reach a compromise with its guaranteed annuity rates (ARs) policy holders - which are expected to cost Equitable pounds 1.5 billion - to give up their rights in exchange for an increase to the size of their policy. An Equitable spokesman said yesterday that details of the compromise could not be finalised until Nicholas Warren QC reported back to the society on whether non-guaranteed annuity rate (GAR) policy holders were entitled to compensation for financial loss they have suffered as a result of the GAR liabilities. 'This may mean that GAR policy holders receive a lower uplift for giving up their GAR's than if Nicholas Warren concludes that non- GAR's do not have claims.'
Publisher
Mirror Regional Newspapers
Subject
