QIE Bothnia Part VII Information
QBE Insurance (Europe) Limited (QBE) and Moorgate Insurance Company Limited (Moorgate) each propose to transfer certain reinsurance business written by Ridgwell, Fox and Partners (Underwriting Management) Limited to Bothnia International Insurance Company Limited (Bothnia) in Finland. The proposed transfer is effected by means of an insurance business transfer scheme under Part VII of the UK Financial Services and Markets Act 2000 (Part VII) and is conditional upon an order of the Chancery Division of the High Court (the Transfer).
Today, the 17 November 2017, the Part VII transfer was approved by the High Court and will take effect at 23:59 on 30 November 2017.
On the 4 August 2017 the High Court granted an Order for Directions at the initial court hearing. The final hearing to approve the Transfer is currently scheduled for 17 November 2017 and will be heard by a Judge of the Chancery Division of the High Court at The Rolls Building, Fetter Lane, London, EC4 1NL, United Kingdom. Any person who believes that he or she would be adversely affected by the Transfer is entitled to make written representations or to be heard (either in person or by a legal representative) at the hearing on 17 November 2017.
How to obtain further information
You may request free copies of any of the documents on this webpage by writing to QBE at QBE, Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom for the attention of Joe Fletcher, or by email to email@example.com. Alternatively, you can telephone on +44 (0)203 551 6551 from Monday to Friday during usual business hours. Accordingly, reinsurers, brokers and other interested parties are politely requested to raise any comments or concerns as soon as possible and ideally by close of business on 9 November 2017. To the extent there is any change to this timetable, an update will be posted on this webpage.
Part VII transfer documents
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- Sanction Order dated 17th November 2017
- Endorsed copy of Claim Form
- Transfer Document
- Summary of the Part VII Transfer and Independent Expert’s Report
- The Independent Expert’s Report (In Full)
- Letter to reinsurers, brokers and other interested parties
- Court Order for Directions dated 4th August 2017
- Legal Notice of the Transfer