Representation of Zurich Insurance Company Ltd and Catalina Worthing Insurance Limited (Royal Court : Hearing (Civil) : MacRae : Insurance) [2026] JRC 102 (27 March 2026)

Representation of Zurich Insurance Company Ltd and Catalina Worthing Insurance Limited (Royal Court : Hearing (Civil) : MacRae : Insurance) [2026] JRC 102 (27 March 2026)

The scheme achieves a legitimate commercial purpose, has no material adverse effect on policyholders or other relevant parties, and satisfies all legal, procedural, and regulatory requirements; therefore, the Court sanctions the scheme.

Citation
[2026] JRC 102
Parties
First Representor: Zurich Insurance Company Ltd; Second Representor: Catalina Worthing Insurance Limited
Jurisdiction
Jersey
Judgment Date
27 March 2026
Procedural Posture
Insurance Business Transfer Scheme Sanction Application / Final Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Insurance Business Transfer, Scheme of Arrangement, Policyholder Protection, Regulatory Approval
Insurance Law Corporate Law Insurance Business Transfer Scheme of Arrangement Policyholder Protection Regulatory Approval

Case Brief

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Parties

Zurich Insurance Company Ltd

First Representor

Catalina Worthing Insurance Limited

Second Representor

Procedural Posture

Insurance Business Transfer Scheme Sanction Application / Final Sanction Hearing

Legal Issues

  1. 1 Whether the proposed transfer scheme should be sanctioned under Article 27 and Schedule 2 of the Insurance Business (Jersey) Law 1996
  2. 2 Whether the scheme has any material adverse effect on policyholders, service standards, or other relevant parties

Ratio Decidendi

The scheme achieves a legitimate commercial purpose, has no material adverse effect on policyholders or other relevant parties, and satisfies all legal, procedural, and regulatory requirements; therefore, the Court sanctions the scheme.

Court Disposition

Scheme sanctioned

Orders

  • The scheme is sanctioned as proposed.
  • The draft order placed before the Court is made.