Equitable Life Assurance Society SOLVENCY AND FINANCIAL CONDITION REPORT 2021. EXECUTIVE SUMMARY. INTRODUCTION. This report is the Solvency and Financial Condition Report (“SFCR”) of the Equitable Life Assurance Society (“the Society SOLVENCY AND FINANCIAL CONDITION REPORT 2021. EXECUTIVE SUMMARY. INTRODUCTION. This report is the Solvency and Financial Condition Report (“SFCR”) of the Equitable Life Assurance Society (“the Society”, “ELAS”) for the reporting period ended 31 December 2021 (“the Report”).