In response to an article in this weekend’s Sunday Times, which claimed the company had already begun talks with Deloitte to appoint the firm as administrator, Equitable said in a statement:
‘Equitable Life has not drawn up any plan for administration. Furthermore, it has no plan to appoint Deloitte & Touche or any other firm as administrator.’
The company added: ‘Equitable Life is and always has been solvent.’
A spokesman from Deloitte declined to comment on what it called ‘client affairs’ as its actuarial division, B&W Deloitte, has recently completed a report on GAR policyholders for Equitable Life.
Since 8 December 1999 Equitable Life, the world’s oldest mutual life assurer, has ceased writing new business and operates only as a closed fund.
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