At the request of a couple of constituents I attended the Equitable Life event in Parliament yesterday. The Group is still pressing for additional compensation. I have taken this up on many occasions with the government. The government’s view is that they have given compensation to reflect the regulatory failures, but the major cause of the losses lay with the company. I do not think the government has any plans to revisit the amount of compensation given. The government provided £1500 million of compensation in total. 38,200 annuitants received 100% compensation. 895,000 other policy holders received lesser amounts, which EMAG puts at 22%.
I am very willing to take up individual cases if there are still outstanding matters about payment of compensation or new points relating to individual contracts that need attention.