Notice of intention

Date listed: 22/7/2019

NOTICE OF INTENTION

Notice of Intention to apply to the Federal Court of Australia for confirmation of a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) for the transfer of the insurance business of the Australian Branch of AXA Corporate Solutions Assurance to the Australian Branch of XL Insurance Company SE.

Notice is given that the Australian branch of XL Insurance Company SE ABN 36 083 570 441 (XLICSE) proposes to make an application to the Federal Court of Australia (Court) at Sydney for orders confirming a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) (Act) to transfer the insurance business of the Australian branch of AXA Corporate Solutions Assurance ABN 95 138 904 284 (ACSA) to XLICSE (Scheme).

ACSA is a limited liability company incorporated in France and XLICSE is a societas europaea (public limited liability company) incorporated in Ireland. Both the Australian branches of ACSA and XLICSE are regulated under the Corporations Act 2001 (Cth) and authorised under the Act to carry on insurance business in Australia.

Should the Scheme be confirmed by the Court, XLICSE will be substituted for ACSA under policies issued or underwritten by ACSA.

Any policyholder who may be affected by the Scheme (Affected Policyholders) has the right to:

  • obtain a copy of the Scheme and associated documentation free of charge on request; and
  • attend the Court hearing and request to be heard on the application for confirmation of the Scheme.

An application by XLICSE for confirmation of the Scheme will be made to the Court in Sydney in or about August 2019 (the exact date will be published on the website https://axaxl.com/insurance/global/asia-pacific/australia when available). If you wish to appear at the hearing, it would assist if you could first contact XLICSE's solicitor, Mr Dean Carrigan of Clyde & Co, by telephone on (02) 9210 ... or by email on dean.carrigan@clydeco.com at least three days before the hearing date.

Affected Policyholders are not required to take any action if they have no objection to the Scheme.

Affected Policyholders may obtain or inspect a copy of this notice, the Scheme, a summary of the Scheme and the actuarial reports upon which the Scheme is based (Scheme Documents) at the places set out below during the hours of 9:00am to 5:00pm each day (other than weekends and public holidays) from 23 July 2019 until 15 August 2019 (inclusive).

NEW SOUTH WALES

Clyde & Co

Level 15, 333 George Street

Sydney NSW 2000

 

QUEENSLAND

Clyde & Co

Level 22, 12 Creek Street

Brisbane QLD 4000

 

VICTORIA

Clyde & Co

Level 26, 140 William Street

Melbourne VIC 3000

 

AUSTRALIAN CAPITAL TERRITORY

Chamberlains Law Firm

224 Bunda Street

Civic Canberra ACT 2601

 

WESTERN AUSTRALIA

Clyde & Co

Level 28,

197 St. Georges Terrace

Perth WA 6000

 

NORTHERN TERRITORY

MSP Legal

6/32 Marina Boulevard

Darwin NT 0820

 

SOUTH AUSTRALIA

Finlaysons

81 Flinders Street

Adelaide SA 5000

 

TASMANIA

Dobson Mitchell Allport

59 Harrington Street

Hobart TAS 7001

 

NEW ZEALAND

Fee Langstone

Level 18,

51 Shortland Street

Auckland 1140 New Zealand

 

An Affected Policyholder may also obtain a copy of the Scheme Documents free of charge by contacting XLICSE by telephone +61 2 8270 ... or by email australiaportfoliotransfer@axaxl.com.

A copy of the Scheme Documents can be viewed during the period set out above at the following website: https://axaxl.com/insurance/global/asia-pacific/australia

If you have any other enquiries you may contact the XLICSE Legal Counsel & Compliance Officer at the contact details referred to above.

In order to assist you in assessing whether you may be an Affected Policyholder, please note that ACSA’s insurance business is largely distributed through intermediaries. It is suggested you contact your broker or agent to ascertain whether you are an Affected Policyholder.

We recommend that each Affected Policyholder obtain and review the Scheme Documents, which contain a discussion of the impact of the Scheme on Affected Policyholders.

Darwin 0800