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Examples
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The House of Lords ruled this was unlawful – and it quickly became clear that the apparently solid institution was less robust than it seemed; for years, the stated value of its policies had been greater than Equitable's actual assets.
Equitable Life's policyholders will get £1.5bn. But is that fair when the axe is falling elsewhere? Andrew Clark 2010
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The coalition is set to decide that Equitable's million-plus victims, who include the indomitable actor Honor Blackman, should share compensation of £1. 5bn – more than triple the £400m recommended by former judge Sir John Chadwick.
Equitable Life's policyholders will get £1.5bn. But is that fair when the axe is falling elsewhere? Andrew Clark 2010
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The lifting of Headdon's ban, which opens the door for a return to a senior management role in the financial services industry if he is offered a post, comes before Equitable's victims have received compensation.
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Headdon gave evidence to an investigation by the accountancy profession's disciplinary body into Equitable's former auditor, Ernst & Young.
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Over the next decade, Axa expanded beyond its origins in the French market, taking over the fifth-largest U.S. insurer, Equitable Life, and widening its capabilities through Equitable's investment-bank arm Donaldson, Lufkin & Jenrette and asset-management subsidiary Alliance Capital.
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Although the New York Insurance Department hired its own legions of accountants and actuaries-at The Equitable's expense-to pore over the deal, the reams of data sent to policyholders can't reveal whether the price is right: the value of the shares depends upon the public stock offering that will follow demutualization.
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In The Equitable's case, there wasn't much choice: when it began demutualization nearly two years ago, the 123-year-old company was on the rocks.
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Their rate of return exceeds Equitable's over 10 years, according to one analysis by actuary James Hunt of the National Insurance Consumer Organization.
A Gamble On Life 2008
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Unusual vote: Ballots are due by May 6, and executives at Equitable's lavish New York headquarters are pacing the floors.
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The Equitable's information center has fielded 92,000 calls from the puzzled recipients, and agents have watched videos on how to explain to clients why the company needs more capital.
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