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UK: Transfer schemes and Copenhagen Re: breaking new ground?

16 June 2016

The recent case of Copenhagen Re was an application to the Court to sanction a scheme for the transfer of insurance business pursuant to Part VII Financial Services and Markets Act 2000. In the main, the Court's ruling is a restatement of the well-recognised grounds upon which the Court will exercise its discretion to sanction a transfer scheme. The ruling nevertheless goes further, in that it is the first occasion where the Court has had to consider how to deal with the effect of a transfer scheme upon guarantees given by the transferor's parent company in respect of policies written through the Institute of London Underwriters. For a detailed discussion of this case please continue reading.

UK Insurance disruption from the 17th century

The Great Fire of London was finally extinguished 350 years ago today. New insurance structures emerged in the aftermath of the Great Fire – which bear striking resemblance to some of ...

05 September 2016
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