3 Jan 2007
RE TRANSAMERICA OCCIDENTAL LIFE INSURANCE CO AND ANOTHER
- Citation
- RE TRANSAMERICA OCCIDENTAL LIFE INSURANCE CO AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP2132/2006
The court sanctioned the transfer because, on the evidence (notably the independent actuary's report and HKIA's non‑opposition), the contractual rights and reasonable expectations of the transferring policyholders would not be materially adversely affected as a group given the Claims Payment Guarantee, Tangible Net Worth Maintenance Agreement, continuity of discretionary benefits and reinsurance arrangements, and therefore the scheme is fair as between affected classes.