Representation of Royal London (CIS) Ltd and Royal London Mutual Insurance Co Ltd [2014] JRC 249 (15 December 2014)

Representation of Royal London (CIS) Ltd and Royal London Mutual Insurance Co Ltd [2014] JRC 249 (15 December 2014)

Procedural requirements have been satisfied and there is no material adverse effect on policyholders; therefore, the scheme is sanctioned.

Citation
[2014] JRC 249
Parties
Transferor: Royal London (CIS) Limited; Transferee: Royal London Mutual Insurance Society Limited
Jurisdiction
Jersey
Judgment Date
15 December 2014
Procedural Posture
Insurance Business Transfer Application / Final Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Transfer of Insurance Business, Policyholder Protection, Regulatory Compliance
Insurance Law Corporate Law Transfer of Insurance Business Policyholder Protection Regulatory Compliance

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 2 Authorities cited 2 Party arguments 2
Sign in to unlock

Parties

Royal London (CIS) Limited

Transferor

Royal London Mutual Insurance Society Limited

Transferee

Procedural Posture

Insurance Business Transfer Application / Final Sanction Hearing

Legal Issues

  1. 1 Whether procedural requirements under Insurance Business (Jersey) Law 1996 have been complied with
  2. 2 Whether the transfer adversely affects any policyholder

Ratio Decidendi

Procedural requirements have been satisfied and there is no material adverse effect on policyholders; therefore, the scheme is sanctioned.

Court Disposition

Scheme sanctioned

Orders

  • Order made in terms of the draft for transfer of long-term insurance business from Royal London (CIS) Limited to Royal London Mutual Insurance Society Limited