Important News for Unit-linked Policyholders

When the Equitable closed to new business in 2000, it was inevitable that at some point the Society had to come to an end. We believe that now is the time to bring this about and we propose to transfer the Society and all its policies to Utmost Life and Pensions (formerly Reliance Life).

In order to complete the transfer, we need to consult with our Regulators, seek the opinion of an Independent Expert appointed specifically to look after policyholder’s interests, and obtain approval from the High Court. We expect this process to be completed towards the end of 2019 and the transfer of policies to Utmost Life and Pensions would follow shortly afterwards.

There is nothing that policyholders need to do now, and Equitable Life will continue to service policies until the transfer. If the transfer is approved, the terms and conditions of unit-linked policies will be unchanged and they will be administered by Utmost Life and Pensions.

We are working with Utmost Life and Pensions to establish the unit-linked funds that will be available on transfer. We will provide policyholders with details in 2019.