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       House of Commons portcullis
House of Commons
Session 2000-2001
Publications on the internet
Treasury Committee Publications

Treasury - Tenth Report

Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 27 March 2001.


CONTENTS


TERMS OF REFERENCE

LIST OF WITNESSES

LIST OF MEMORANDA INCLUDED IN THE MINUTES OF EVIDENCE

LIST OF APPENDICES TO THE MINUTES OF EVIDENCE

REPORT

Summary of Conclusions and Recommendations
Introduction
Current Inquiries into the Equitable Life Affair
Aim of this Report
Regulation of the Life Assurance Sector
The issue of Guaranteed Annuity Rate options and the responseof Equitable Life
"With-profits" policies
The increasing worth of GARs during the 1990s
The response of Equitable Life: to pay different terminal bonuses
The lack of reserves
The role of the appointed actuary
GAD Review of regulatory reserving for GARs
The response of Equitable Life to the GAD review of regulatoryreserves
Purchase of a Reinsurance Contract
The reporting of the regulatory reserving requirement
Legal proceedings
The process of the representative action through the courts
Did the House of Lords ruling differ from the Court of Appeal's?
The implications of the findings of the House of Lords
Information to policyholders following the Court of Appeal verdict
The issue of management discretion and the complexity of the contracts
The FSA inquiry
The role of the Government Actuary's Department
The future for Equitable Life policyholders

PROCEEDINGSOF THE COMMITTEE RELATING TO THE REPORT

LIST OF TREASURY COMMITTEE REPORTS

VOLUME II

MINUTES OF EVIDENCE

APPENDICES TO THE MINUTES OF EVIDENCE


 
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Prepared 29 March 2001