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Insurance Business Transfer - Latest News
Following a successful Final Hearing at the High Court on 29 March 2010, the Insurance Business Transfer has now completed. This means that the long term elements of the relevant policies have now transferred in their entirety to Syndicate 44 managed by Sagicor at Lloyd’s.
Insurance Business Transfer
Syndicate 44 at Lloyd's for the 2010 year of account, acting through its managing agent, Sagicor at Lloyd's Limited ("Syndicate 44")
QBE Insurance (Europe) Limited ("QBE")
The information contained on this page is correct as of 01 April 2010
If you are reading this page about our proposal to transfer part of the insurance business of QBE to Syndicate 44, you have probably been directed here by a letter we have sent you, or one of our national adverts. You can find on this webpage links to a number of key documents on the transfer, including documents submitted to the High Court which must approve the transfer before it can take place. Our industry regulator, the Financial Services Authority (FSA) has also reviewed our plans. The final hearing of the High Court is scheduled for 29 March 2010 and if the High Court approves the transfer it will become effective on 31 March 2010.
Please feel free to read and download any of the documents on this webpage. These documents tell you what we are planning to do, how we intend to do it and what the impact is on you. If you have any questions, please call our local rate help line on 08451 44 55 66.
The Transfer
QBE are proposing to transfer the long term insurance elements of certain early termination insurance policies and the long term insurance elements of certain payment protection insurance policies to Syndicate 44.
If you have a policy which is affected by the proposed transfer, you will have been sent a letter which contains further information on the proposed transfer. You can access a copy of the letter by clicking on the links set out below.
The FSA and the High Court require us to demonstrate the impact of the transfer, if any, on policyholders. A report by an independent expert on the transfer has been issued to the High Court as part of the evidence supporting the transfer. The appointment of the independent expert has been approved by the FSA, and you can access a copy of his report, together with a summary of his report, by clicking on the links set out below.
Documents:
This section contains documents giving more detail about the transfer. These documents are available to download by clicking on the links below:
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