UK: EUREKO TO BID FOR EQUITABLE LIFE

Article Abstract:

Eureko, the Dutch based pan-European insurance group, has revealed that it is considering launching a bid fro Equitable Life, the UK based life insurance mutual. Eureko is expected to decide by the end of this week (17 November 2000) whether or not to launch a formal bid. It has been suggested that Prudential is the only other credible bidder at this time as CGNU is thought unlikely to table a final offer. If Eureko's bid is successful it is likely to repair Equitable's damaged life fund and refloat the company.

Netherlands, Statistical Data Included, Brief Article, Eureko B.V.

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Lloyds plans more deals after Widows takeover

Article Abstract:

Lloyds TSB is to purchase mutual life insurance concern Scottish Widows for 7 billion pounds sterling. Following the completion of the deal in spring 2000, around 900,000 with-profits policy holders at Scottish Widows will receive windfall cash payments of 6,000 pounds sterling on average. The deal will more than double the assets Scottish Widows has under management to 80 billion pounds sterling. Lloyds TSB has stated that it now plans larger deals.

Commercial Banks, Commercial Banking, Banking industry, Lloyds TSB Group PLC, Scottish Widow's Fund and Life Assurance Society

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Equitable policy-holders no longer stare into black abyss

Article Abstract:

The board of Equitable Life has recommended selling the operations to Halifax and placing a ceiling on the guaranteed annuity rate liability. The key issue will be whether the with-profits fund continues to be managed at a comparable cost to the current fund.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Management, Halifax Insurance Co., HX

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