§ Mr. CoxTo ask the Chancellor of the Exchequer if his Department was warned before Equitable Life Assurance Society closed itself to new business that the company was potentially unable to meet its contractual commitment to its policy holders; and if he will make a statement. [158567]
§ Miss Melanie JohnsonThe Financial Services Authority made it clear when the Equitable Life Assurance Society closed to new business that the society continued to meet statutory solvency requirements. The FSA is continuing to monitor closely the operations of Equitable Life.