Representation of American Life and Reassure Limited [2012] JRC 142 (24 July 2012)
No policyholder will be adversely affected by the transfer scheme; procedural requirements have been complied with; regulatory and actuarial confirmations support approval.
- Citation
- [2012] JRC 142
- Parties
- Transferor: American Life Insurance Company (Alico); Transferee: Reassure Limited
- Jurisdiction
- Jersey
- Judgment Date
- 24 July 2012
- Procedural Posture
- Insurance Business Transfer / Final Approval
- Outcome
- scheme approved
- Legal Topics
- Transfer of Long Term Insurance Business, Policyholder Protection
Case Brief
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Parties
American Life Insurance Company (Alico)
Transferor
Reassure Limited
Transferee
Procedural Posture
Insurance Business Transfer / Final Approval
Legal Issues
- 1 Whether procedural requirements under Insurance Business (Jersey) Law 1996 have been complied with
- 2 Whether any person is likely to be adversely affected by the scheme
Ratio Decidendi
No policyholder will be adversely affected by the transfer scheme; procedural requirements have been complied with; regulatory and actuarial confirmations support approval.
Court Disposition
scheme approved
Orders
- terms of the draft order submitted are approved
Full Case Text
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