The independent action group for current and ex Equitable Life policyholders, funded by contributions.
Equitable Members Action Group
Equitable Members Action Group Limited, a company limited by guarantee, number 5471535 registered in the UK
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20/03/1989 - Submission to the Journal of the Institute of Actuaries by Roy Ranson in 1989 entitled "With Profits, without mystery."
If you read only one background paper to understand the Equitable fiasco, make it this one. Written by actuaries Roy Ranson and Chris Headdon in 1989, it lays the flawed background to the disaster which ensued. (34 page Word document) For minutes of the meeting at which this paper was discussed click here. (PDF document - click here to download pdf reader).