Equitable Still Seeking a Buyer, Aims To Cap Losses

January 8, 2000

Struggling U.K. Mutual insurer Equitable Life has reportedly been having talks with pension fund managers aimed at capping the expected losses from guaranteed annuity payments it has been ordered to make.

The talks are aimed at giving potential buyers reliable estimates of the losses Equitable faces, rather than the current unknown quantity, which has caused previously interested parties, notably the U.K.’s Prudential, to reject a deal with Equitable.

If claims could be compromised, there’s renewed speculation that Prudential and perhaps Dutch insurer Aegon may have renewed interest in taking over the troubled company.

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