Sidley Austin LLP, London, is able to provide legal advice (including advice regarding transfers involving insurance business domiciled outside the UK), in relation to insurance business transfer schemes under Part VII of the UK Financial Services and Markets Act 2000. Such transfers enable direct insurers and reinsurers alike to transfer all or part of their books of business to another approved insurer.
Members of the team have been involved in, for example, new approaches for extending the use of Part VII transfers and in successfully dealing with opposed transfers.
Information regarding many approved and proposed Part VII transfers can be accessed by viewing the PDF. Alternatively, to discuss opportunities and issues relating to these transfers, please contact Martin Membery at mmembery@sidley.com or telephone +44 20 7360 3614.