UK - Michael Arnold, senior partner at consultant Hymans Robertson, is to be the independent actuary for the Equitable Life Assurance Society's compromise agreement.
The compromise proposals will be sent to policyholders for consultation later this month.
Arnold will provide a report to all the society’s policyholders on the fairness of the actuarial terms of the compromise scheme and the benefits to be delivered both generally and between classes of policyholders.
Following consultation with policyholders, the final compromise will be sent to them for voting later in the year and will subsequently go to the courts for approval.
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