Informa Insurance News 24
NEWS IN BRIEF
UK-based GE Capital...
has withdrawn its improved £1.5bn offer for Equitable Life after the UK mutual rejected it. Equitable, which closed to new business in December, said that although GE Capital’s offer was higher than an agreed takeover offer made by UK financial services group Halifax, overall it was not as attractive. It included a £400m reinsurance facility that Equitable claimed was merely a loan.