Dinah Rose QC asks court to enforce Equitable compensation

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  • The Ombudsman's report should have clearly detailed how the maladministration caused the billions of EL's with-profit assets to go missing.
    A claim for full compensation would then be straightforward.

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  • 'Regulatory' or 'actuarial' failure ? EL reported :
    1994 assets £13.551bn ,surplus £917m
    1995 assets £16.502bn, surplus £1.433bn
    1996 assets £19.131bn, surplus £!.420bn
    1997 assets £23.828bn, surplus £1.752bn
    Then circa 1998 EL was in £1.5bn deficit.
    EL's figures were about £3.252bn adrift.
    Seems more like actuarial failure.

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