Menu
31/08/2001
Government to probe Equitable Life fiasco
The UK government is set to launch an in-depth investigation into the life assurance company Equitable Life.
The move was confirmed by the government after thousands of policy holders saw their investments slashed because of troubles at the company.
The Treasury's statement indicated that the inquiry could probe the firm's activities as far back as the 1950s, when it began selling the guaranteed annuity policies that brought the firm to the brink of financial failure.
Members of the Equitable Life have repeatedly called on a full government investigation after complaints that the inquiry by the Financial Services Authority (FSA) watchdog did not go far enough. The FSA's investigation, which has yet to be officially handed over to the government, only goes as far back as the beginning of 1999.
However, the government has stressed that the inquiry will only look at the circumstances that led to the problems, rather than seeking to advise policy holders on a future course of action.
Founded in 1762, the Equitable Life is the UK's oldest life assurance company. (MB)
The move was confirmed by the government after thousands of policy holders saw their investments slashed because of troubles at the company.
The Treasury's statement indicated that the inquiry could probe the firm's activities as far back as the 1950s, when it began selling the guaranteed annuity policies that brought the firm to the brink of financial failure.
Members of the Equitable Life have repeatedly called on a full government investigation after complaints that the inquiry by the Financial Services Authority (FSA) watchdog did not go far enough. The FSA's investigation, which has yet to be officially handed over to the government, only goes as far back as the beginning of 1999.
However, the government has stressed that the inquiry will only look at the circumstances that led to the problems, rather than seeking to advise policy holders on a future course of action.
Founded in 1762, the Equitable Life is the UK's oldest life assurance company. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
02 September 2016
First Minister Opens New Belfast Telegraph Offices
The new premises of Belfast Telegraph publishers Independent News & Media (INM) has been officially opened by First Minister Arlene Foster. Located in Clarendon Dock, the new purpose built centre fully integrates the print and digital news operations of the Belfast Telegraph, Sunday Life, belfasttelegraph.co.
First Minister Opens New Belfast Telegraph Offices
The new premises of Belfast Telegraph publishers Independent News & Media (INM) has been officially opened by First Minister Arlene Foster. Located in Clarendon Dock, the new purpose built centre fully integrates the print and digital news operations of the Belfast Telegraph, Sunday Life, belfasttelegraph.co.
16 April 2014
Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
-
Northern Ireland WeatherToday:A few fog patches at first, soon clearing to leave a dry day with some patchy cloud and good sunny spells. Light and variable winds. Feeling mild in sunny spells. Maximum temperature 14 °C.Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Minimum temperature 2 °C.
