PROPOSED CHANGES TO OUR BUSINESS
The LCCG Ireland group contains a number of life assurance companies. We are now proposing to simplify our business by transferring all the policies from a number of transferring companies into a single company within the group, Harcourt Life Ireland dac (“HLI”). The companies impacted are outlined below:
LCCG Ireland group companies
The proposal is subject to approval by the High Court of Ireland (“the High Court”), in Dublin. If approved, the changes will come into effect on 31 March 2018, which we refer to as the “Effective Date”.
Where can I find out more information?
Within our document library, there are links to a number of documents that will provide you with more details about the proposed transfer, including the application to the High Court, which was made on 18 December 2017.
You can also view the Independent Actuary’s Report, in respect of the proposed transfer. As legally required in a transfer of this type in order to safeguard the interests of all policyholders impacted, an Independent Actuary, Ms Rosemary Commons (Willis Towers Watson) was appointed to review the terms of the proposed transfer. The report concludes that, subject to the points listed in section 11 of her report, “There is no material adverse impact on the security of benefits for any group of policyholders as a result of the proposed Scheme; and no group of policyholders will suffer any reduction in reasonable benefit expectations as a result of the proposed Scheme”.