Equitable Life promised guaranteed returns it had not provided for
Equitable Life Assurance Society · Life insurance (mutual)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Drawing power vs books
Would have compared guaranteed obligations with assets.
Can mislead when: CARO is annual, so the signal comes late. It covers only borrowers above the ₹5 crore limit.
Unit economics & burn
Would have tested whether bonus rates were sustainable.
Can mislead when: Cost allocation is a judgement call. Kubr shows its assumptions and lets the user change them.
Regulatory & litigation records
Would have tracked litigation over the guarantees.
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
Where Kubr services would have helped
Financial diligence
Offered in India- C9 Would have tested whether bonus rates were sustainable.
- C14 Would have compared guaranteed obligations with assets.
Model check
Offered in India- C9 Would have tested whether bonus rates were sustainable.
- C14 Would have compared guaranteed obligations with assets.
Valuation context
Offered in India- C8 Would have tracked litigation over the guarantees.
- C9 Would have tested whether bonus rates were sustainable.
Borrower monitor
Offered in India- C8 Would have tracked litigation over the guarantees.
- C14 Would have compared guaranteed obligations with assets.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.