Pru weighs €10bn Equitable deal

POLICYHOLDERS at Equitable Life could be in line for some good news following reports that insurance giant Prudential is interested in buying up to €10.4 billion (£7bn) of annuities from the group.

Britain’s second-biggest insurer Prudential is said to be in advanced talks with Equitable about taking on a large chunk of its annuity business, according to the Mail on Sunday.

The group is said to be interested in acquiring up to £5bn of beleaguered Equitable’s conventional annuities book and £2bn of its with-profits annuities and it has already carried out due diligence.