Recent Market Events
In light of recent events, Equitable Life would like to disclose the following information with regards to some of the more prominent
issues in the financial markets and how they might relate to the investments of Equitable Life.
While U.S. bank and brokerage exposure in our fixed income portfolios represents less than 2% of total assets we confirm that the
portfolio composition remains high quality as evidenced by:
- No exposure to Lehman Brothers, AIG, or Morgan Stanley either through direct debt, equity, or credit default swap investments
- No exposure to any U.S. bank or brokerage firms as a counterpart to a derivative transaction
- No reinsurance services provided to Equitable Life through AIG
- No holdings of any Collateralized Debt Obligations (CDO's) or Asset Backed Commercial Paper (ABCP)
- No exposure, directly or indirectly, to U.S. sub-prime mortgages
We trust that the details provided will contribute to your continued confidence in our capabilities and conscientious approach to providing for our future obligations.
