Equitable Life Assurance Society Limited (“Equitable Life”)

12th May 2006

It has been announced that Canada Life has reached an agreement with Equitable Life to acquire most of its non-profit annuity book of business. 

The Commission has received no communication from Equitable Life concerning its arrangements with Canada Life although we were advised in very broad terms of the nature of the announcement by the FSA as part of our regular communication with them. 

The Commission will continue to monitor developments in connection with Equitable Life and consider the implications that any developments may have for Guernsey branch policyholders.