Scottish Equitable PLC & Anor, Re

Scottish Equitable PLC & Anor, Re

The Scheme is commercially rational, equitable, and will not have a material adverse effect on policyholders or creditors. Procedural requirements have been satisfied, and the transfer does not novate individual policies but continues them. The Scheme is sanctioned.

Parties
Claimant: Scottish Equitable Plc; Claimant: The Royal London Mutual Insurance Society Limited
Jurisdiction
England and Wales
Judgment Date
26 January 2026
Procedural Posture
Insurance Business Transfer Scheme / Final Sanction Hearing
Outcome
Scheme sanctioned; draft order granted with amendments.
Legal Topics
Insurance Business Transfer, Policyholder Protection, Statutory Interpretation, Scheme Sanction
Insurance Company Law Financial Regulation Insurance Business Transfer Policyholder Protection Statutory Interpretation Scheme Sanction

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 6 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

Scottish Equitable Plc

Claimant

The Royal London Mutual Insurance Society Limited

Claimant

Procedural Posture

Insurance Business Transfer Scheme / Final Sanction Hearing

Legal Issues

  1. 1 Whether the insurance business transfer scheme should be sanctioned under section 111(1) of FSMA
  2. 2 Whether the transfer would have any material adverse effect on policyholders or creditors
  3. 3 Whether procedural and notification requirements were satisfied

Ratio Decidendi

The Scheme is commercially rational, equitable, and will not have a material adverse effect on policyholders or creditors. Procedural requirements have been satisfied, and the transfer does not novate individual policies but continues them. The Scheme is sanctioned.

Court Disposition

Scheme sanctioned; draft order granted with amendments.

Orders

  • Insurance business transfer scheme sanctioned under section 111(1) FSMA.
  • Ancillary orders made under section 112 FSMA.