General Insurance Article - RBS transfers insurance businesses into one company


 International legal practice Norton Rose has advised the RBS Group on the successful transfer of the insurance businesses of Churchill, Direct Line and NIG into UK Insurance Limited. The transfer was made pursuant to Part VII of the Financial Services and Markets Act 2000 and was sanctioned by the High Court on 5th December.
 This is the largest general insurance portfolio transfer ever completed in the UK with the four insurance business together comprising in excess of 20 million policies.
 Ashley Prebble, partner at Norton Rose, comments
 "Nothing on this scale has ever been attempted in this market before. The successful conclusion of the work has proven that restructurings of this magnitude can be completed in a commercially viable way whilst safeguarding policyholder interests at all levels."

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.