Prudential said today that the work of 2,000 UK staff was under review after it outlined plans for cost savings worth £195m (€285.5m) a year.

Prudential today raised the cost savings target for its struggling UK business by more than 40% to £195m (€285.4m) and said it was pulling out of key pension and savings markets as part of a rescue plan for its home region.

THE Chairman of the European Parliament’s Inquiry into Equitable Life, Ireland East Fine Gael MEP Mairead McGuinness, expressed concern about the manner in which complaints from Equitable Life policy holders were dealt with by the Financial Ombudsman Service in Britain.

Equitable Life today said its finances were in a stronger position than at any other point since the debacle that brought it to the brink of collapse six years ago.

POLICY holders in Equitable Life were deliberately kept in the dark about the dire financial situation of the company, a European Parliament inquiry heard.

THE Government has been accused of being “worse than useless” for its lack of support for thousands of Irish who lost a major portion of their pension savings as a result of the near-collapse of British insurance society, Equitable Life.

THE Government has been accused of being “worse than useless” for its lack of support for thousands of Irish people who lost major portions of their pension savings as a result of the near-collapse of British insurance society Equitable Life.

A YEAR-LONG investigation into the near collapse of the insurance company, Equitable Life, will be carried out by a European Parliament committee.

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.

THE chairman and chief executive of Equitable Life faced calls to resign yesterday as the society dropped its stg£700 million (€1.03 billion) damages claim against its former auditors.

FORMER non-executive directors of Equitable Life are claiming that the £1.7 billion (€2.5 billion) lawsuit launched against them by the crisis-hit insurer was simply a way of getting into the “deeper pockets” of its one-time auditors, Ernst & Young.

EQUITABLE Life Assurance Society today begins a £3.8 billion lawsuit claiming its former management and auditor Ernst & Young led the London-based insurer to the brink of collapse.

British assurance society Equitable Life said today it was ready to consider its long-term future after achieving its most “stable and secure” position since 2000.

Troubled British mutual Equitable Life sought to bolster its financial position today with an offer to buy back bonds with a value of up to £260m (€373.7m).

Accountancy group Ernst & Young could be subject to a professional investigation over its role in the crisis at Equitable Life, it emerged today.

An action group for policyholders of troubled mutual Equitable Life said today it had written to the society’s board offering an olive branch.

THE Association of Chartered Certified Accountants (ACCA) fears a recent court ruling exposing directors to claims will lead to a shortage of non-executive directors.

OVER-expansion and over-reliance on stock markets have resulted in pressure on the global insurance sector.

Leading shares in London remained low following Wall Street's dive on Friday, triggered by profits warnings, and as the insurers succumbed to a welter of worrying news, upsetting sentiment in the wider financial sector.

Members of troubled mutual Equitable Life have until tomorrow to cast their postal votes in a compromise deal which aims to solve the society’s Stg£1.06bn (€1.7bn) pensions liability.

The Halifax is buying Equitable Life for £1bn.

Halifax bank today said it is interested in buying parts of Equitable Life, the troubled mutual life insurer.