'Cautious optimism' at Equitable

TROUBLED insurer Equitable Life said it is 'cautiously optimistic' about its future, but warned that its finances are still fragile. Chief executive Charles Thomson said he hopes to have resolved all 'fundamental uncertainties' by the end of next year.

Big unknowns include the costs of possible compensation payments to policyholders, potential mis-selling liabilities and legal expenses.

The group is awaiting publication of the probe into the scandal by Lord Penrose. His report may lead to fresh