Royal London joins Equitable Life suitors

Published on Monday 28 November 2005 01:47

ROYAL London, the UK's second-largest mutual insurer and the owner of the Scottish Life brand, and Swiss Re are reported to have joined the list of parties interested in the assets of beleaguered mutual Equitable Life.

Sources said that Royal approached Equitable to table an interest in its 7 billion with-profits fund. Resolution Life and Hugh Osmond's Life Company Investor Group have already confirmed an interest.

The Business newspaper, claimed Swiss Re, the world's biggest reinsurer, has taken a look at its 9bn life fund.

Previously Prudential, the country's second-biggest life insurer, has been reported to be interested in buying up 7bn of annuities from Equitable.

• Speculation around the future of the London Stock Exchange also continued. Attention has shifted to a link-up with OMX AB, which owns exchanges in Stockholm, Helsinki and some Baltic countries, according to the Sunday Telegraph.