Part VII Transfer

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.

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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.

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Summary of the Scheme and IE Report

This document sets out the terms of the scheme and the contains a summary of the independent expert's report.

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