Utmost Life and Pensions) is backed by Oaktree Capital Management and specialises in buying insurance businesses that are closed to new customers. Some of the proceeds of the sale would be returned to the remaining 400,000 policyholders in the form of increased bonuses on their policies. The sale required approval by policyholders and the High Court, and, having received this, completed at the end of 2019, with UK policies transferring to Utmost Life and Pensions. Irish and German policies remain with the Equitable Life, now a subsidiary of Utmost Life and Pensions. References Further reading External links Equitable Life – important next steps (HM Treasury 22 July 2010) The Office of Sir John Chadwick Equitable Life Members Support Group Equitable Members Action Group (EMAG) Memorandum by Cazalet Financial Consulting to the House of Commons (2001) Financial services companies established in 1762 2000 scandals 2000 in the United Kingdom 1762 establishments in Great Britain Mutual insurance companies Life insurance companies of the United Kingdom History of insurance