Royal London, the UK's second largest mutual life insurer, is reported to be conducting due dilligence on Equitable Life's £7bn annuities business. Other interested parties are believed to be the UK life insurer Prudential and Sun Capital, while Resolution Life, Swiss Re and Legal & General have shown an interest in other parts of the business. Equitable Life, which closed to new business in 2000, is unlikely to receive a significant price from the sale.