Aviva Insurance Ltd notice for policyholders
13 November 2018
Engineers and engineering companies with insurance policies issued by Aviva Insurance Limited, through their branch in the Republic of Ireland, may be affected by Aviva’s proposal to transfer Irish policies to Aviva’s new Irish insurance company.
These changes are as a result of the UK’s expected withdrawal from the EU. Aviva will be writing directly to all policyholders who would be impacted and are also publishing the following notice of application to the Court of Session in Scotland court which will consider Aviva’s proposal.
Notice of Application to the Court
AVIVA INSURANCE LIMITED
AVIVA INSURANCE IRELAND DESIGNATED ACTIVITY COMPANY
Notice is hereby given that on 30 August 2018 a Petition was presented to the Court of Session in Scotland (the “Court”) by (i) Aviva Insurance Limited (formerly CGU Insurance plc, General Accident Fire and Life Assurance Corporation plc, General Accident Fire and Life Assurance Corporation Limited, The General Accident Assurance Corporation Limited), incorporated under the Companies Acts, registered in Scotland (Company Number SC002116) and with its registered office at Pitheavlis, Perth PH2 0NH (“AIL”); and (ii) Aviva Insurance Ireland DAC (formerly Aviva OPP One DAC), a designated activity company registered in Ireland (Company Number 605769) and with its registered office at One Park Place, Hatch Street, Dublin 2, Ireland (“AIIDAC”), applying for, inter alia, an order of the Court under Part VII of the Financial Services and Markets Act 2000 (the “Act”) sanctioning a scheme (the “Scheme”). The Scheme provides that the following classes of general insurance business are to be transferred by AIL to AIIDAC: (i) all business effected by AIL on a freedom of establishment basis out of AIL’s branch in the Republic of Ireland (including such business where AIL’s records show that the risk is situated in the United Kingdom); (ii) certain business effected by AIL on a freedom of establishment basis out of AIL’s former branch in France; (iii) certain business effected by AIL on a freedom of establishment basis out of AIL’s former branch in Belgium; and (iv) certain commercial and retail business effected by AIL where AIL’s records show that the risk is situated in states in the European Union or European Economic Area other than the United Kingdom.
Copies of the Petition, a report on the Scheme prepared by an independent expert under section 109 of the Act, a statement setting out the terms of the Scheme and a summary of the report of the independent expert may be obtained by any person free of charge on Aviva’s website at https://transfer.aviva.com/insurance/documents. You can also request free copies of any of these documents by calling 0189 86521 in Ireland and 01603 606387 in the UK* or by writing to Transfer Mailing (BAU I), PO Box 3660, Norwich, NR1 3EQ until the Scheme becomes effective, expected to be 00:01GMT on 1 February 2019.
In accordance with the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001, AIL and AIIDAC will publish a series of notices in relation to the application. Any person who believes that they would be adversely affected by the carrying out of the Scheme should lodge written Answers (formal written objections) to the Petition with the Court at Parliament House, Parliament Square, Edinburgh EH1 1RQ within 42 days of the publication of the last of these notices, which is expected to occur by 23 November 2018. Such persons may wish to seek independent legal advice. In accordance with its present practice, the Court is also likely to consider any other objections to the Scheme which are made to it in writing or in person at the Court hearing to consider whether to sanction the Scheme, which is expected to take place at 9am on 15 January 2019 at the above address. Should the date or time change, the new date or time will be advertised on Aviva’s website at https:// transfer.aviva.com/insurance
This notice is given pursuant to Regulation 3(2) of the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001.
Burness Paull LLP
50 Lothian Road
(Solicitors in Scotland to Aviva Insurance Limited and Aviva Insurance Ireland DAC)
* The phone lines will be open from 9am to 5pm Monday to Friday.
Calls are charged at standard call rates if calling from the UK and Ireland and at international call rates if calling from elsewhere. Charges may vary depending on your network provider. For our joint protection we may record and/or monitor telephone calls.http://www.engineersjournal.ie/2018/11/13/aviva-insureance-ltd-notice-for-policyholders/http://www.engineersjournal.ie/wp-content/uploads/2018/11/engineers-journal-news.pnghttp://www.engineersjournal.ie/wp-content/uploads/2018/11/engineers-journal-news-300x225.pngSponsored