It is proposed that:
(a) the EEA direct insurance business of Sompo Japan Nipponkoa Insurance Company of Europe Limited (“SJNKE”) and the EEA direct insurance business of Endurance Worldwide Insurance Limited (“EWIL”), together with part of their respective EEA reinsurance businesses, will be transferred to SI Insurance (Europe), SA; and
(b) the remaining business of SJNKE will be transferred to EWIL
under a scheme pursuant to Part VII of the Financial Services and Markets Act 2000 (the “Part VII Transfer”).
Subject to the granting of an order of the Court sanctioning the scheme, the Part VII Transfer is expected to become effective on 1 January 2019.
Independent Expert’s Report
The report on the Part VII Transfer has been prepared by an independent expert Gary Wells setting out the likely effect of the transfers on the policyholders concerned.
The Independent Expert’s Supplementary Report
The Supplemental Report on the Part VII Transfer has been prepared by the independent expert Gary Wells. It provides an update on any relevant new information or events that have occurred since the date of the Independent Expert’s Report and provides an opinion on whether they have affected the Part VII Transfer.
Summary of the Scheme and IE Report
This document sets out the terms of the scheme and contains a summary of the independent expert’s report.
Information for Policyholders in Estonia and Slovenia
On 10 December 2018 the High Court of England and Wales granted an Order approving the Part VII Transfer. If you are a policyholder in Estonia or Slovenia, you will find information about the Part VII Transfer here.