Magazine article The Spectator

Equitable Life Goes Shopping for a New Slogan - 'Whhops' Might Do, or Even 'Sorry'

Magazine article The Spectator

Equitable Life Goes Shopping for a New Slogan - 'Whhops' Might Do, or Even 'Sorry'

Article excerpt

The Equitable Life, now trading as Halifax Equitable, is looking for an advertising agency. Pitches are invited, and the successful candidate will have to come up with a new slogan. 'Whoops' might do. It can only be an improvement on the previous campaign, whose message was that a mutual society has no shareholders' mouths to feed, so the profits would go to the policy-holders, who own it. The losses, too, as I warned at the time. The slogan was `It's questiontime - the Equitable Life', and now we have the answer. The Equitable's policyholders and pensioners have seen that the `with-profits' fund, which is there to pay their pensions, is also a with-losses fund. Pensioners, actual and prospective, have seen their values reduced by one-sixth. When at the end of last year the Equitable's board came over with its hands up, closing the books to new business and penalising those who took their money out, I looked back on the directors' stewardship. …

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