Equitable Life is to sell its University Life Assurance Society subsidiary to Reliance Mutual, remov...
Equitable Life is to sell its University Life Assurance Society subsidiary to Reliance Mutual, removing around 2,000 policyholders from its books. This latest sale is in line with the group's long-term strategy of simplifying the back book of business to improve potential future payments to policyholders. Reliance Mutual specialises in administering small closed life funds, buying Criterion Life, 23,500 policies from Family Assurance, 8,000 policies from Eurolife Assurance Company, and 11,000 policies through the acquisition of SEB Trygg Life since 2003. Equitable Life will sell its Univ...
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