London Market Companies transfer (2005)
Transfer to The Ocean Marine Insurance Company Limited
A number of our general insurance businesses transferred to The Ocean Marine Insurance Company Limited at 23.59 (BST) on 28 April 2005, in accordance with the terms of the Orders of the High Court of Justice in England given by Mr Justice Laddie on 12 May 2004, Mr Justice Patten on 17 December 2004 and Mr Justice Laddie on 25 April 2005, and Part VII of the Financial Services and Markets Act 2000.
The businesses are listed below:
- London & Scottish Assurance Corporation Limited
- Edinburgh Assurance Company Limited
- The Indemnity Marine Assurance Company Limited
- The British & European Reinsurance Company Limited
- Commercial Union Assurance Company Limited
- General Accident Fire and Life Assurance Corporation Limited
- General Accident Reinsurance Company Limited
- The New Zealand Reinsurance Company (UK) Limited
- The Road Transport & General Insurance Company Limited
- The Ulster Marine Insurance Company Limited
- Scottish Insurance Corporation Limited
- The Yorkshire Insurance Company Limited
The independent expert's report concluded that "... the risk of any policyholder being adversely affected by the proposed transfer is sufficiently remote for it to be appropriate to proceed with the Scheme...".
- High Court Order of 25 April 2005 amending the effective date of the transfer to 28 April 2005 (PDF 0.48Mb)
- High Court Order of 17 December 2004 amending the effective date of the transfer to 30 June 2005 (PDF 0.40Mb)
- Notice(PDF 0.02Mb)
- Policyholder letter (PDF 0.04Mb)
- Scheme document (PDF (0.06Mb)
- Independent expert's report (PDF 0.76Mb)
- High Court Order of 12 May 2004 approving the transfer (PDF 1.86Mb)
