Representation of LCL Assurance Limited [2017] JRC 218 (29 December 2017)
No policyholder is adversely affected by the scheme; all procedural requirements have been met; the scheme is fair and reasonable.
- Citation
- [2017] JRC 218
- Parties
- Transferor: LCL Assurance Limited; Transferee: LCL International Life Assurance Company Limited
- Jurisdiction
- Jersey
- Judgment Date
- 29 December 2017
- Procedural Posture
- Insurance Business Transfer Application / Final Sanction Hearing
- Outcome
- application approved
- Legal Topics
- Transfer of Insurance Business, Policyholder Protection, Court Sanction of Schemes
Case Brief
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Parties
LCL Assurance Limited
Transferor
LCL International Life Assurance Company Limited
Transferee
Procedural Posture
Insurance Business Transfer Application / Final Sanction Hearing
Legal Issues
- 1 Whether the procedural requirements under the Insurance Business (Jersey) Law 1996 have been complied with
- 2 Whether the scheme adversely affects any policyholder
Ratio Decidendi
No policyholder is adversely affected by the scheme; all procedural requirements have been met; the scheme is fair and reasonable.
Court Disposition
application approved
Orders
- The scheme for the transfer of the long term insurance business from LCL Assurance Limited to LCL International Life Assurance Company Limited is sanctioned.
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