Insurance business transfer

Simplifying our business

On 14 December 2011 the English High Court sanctioned the transfer of the long-term business of SLFC Assurance (UK) Limited (SLFC) to Sun Life Assurance Company of Canada (U.K.) Limited (SLOC) under Part VII of the Financial Services and Markets Act 2000 (FSMA). If you are resident in Jersey or hold a long-term policy written in Jersey, on the 19 December 2011 the Royal Court of Jersey sanctioned the transfer of your policy from SLFC to SLOC. If you are resident in Guernsey or hold a long-term policy written in Guernsey, on the 20 December 2011 the Royal Court of Guernsey sanctioned the transfer of your policy from SLFC to SLOC.

The transfer (for UK, Jersey & Guernsey) took effect at 23:59 on 30 December 2011 and long-term policyholders of SLFC are now policyholders of SLOC.

Our UK financial services regulator at the time, the Financial Services Authority (FSA), also reviewed our plans and an Independent Expert was selected to review the proposals to ensure the protection of all policyholders involved in the transfer.

The transfer took place through an insurance business transfer Scheme under Part VII of the Financial Services and Markets Act 2000 (FSMA).

Information

Information about the transfer is set out in the documents below which are available to download.

Full UK Scheme Adobe PDF document
Legal document providing full details of the terms of the Scheme under which the transfer was implemented in the U.K. The terms of the UK Scheme are incorporated into the Jersey Scheme and the Guernsey Scheme (37 pages).

Letter to long-term SLFC policyholders Adobe PDF document
Letter sent to SLFC Assurance (UK) Limited (SLFC) long-term policyholders about the transfer.

Letter to long-term SLOC policyholders Adobe PDF document
Letter sent to Sun Life Assurance Company of Canada (U.K.) Limited (SLOC) long-term policyholders about the transfer.

The Guide: Simplifying our Business Adobe PDF document
A guide outlining the key elements of the transfer and the changes that took place. Includes the Summary of the Independent Expert's Report in Section 7 which applies equally to the UK, Jersey and Guernsey.

Press notice Adobe PDF document
Copy of the legal notice for the UK Scheme.

Frequently Asked Questions Adobe PDF document
Answers to some general questions about the transfer.

Additional information for Jersey policyholders

Full Scheme for Jersey Adobe PDF document
Legal document providing full details of the terms of the Scheme under which the transfer was implemented in Jersey.

Jersey Press Notice Adobe PDF document
Copy of the legal notice for the Jersey Scheme.

Additional information for Guernsey policyholders

Full Scheme for Guernsey Adobe PDF document
Legal document providing full details of the terms of the Scheme under which the transfer was implemented in Guernsey.

Guernsey Press Notice Adobe PDF document
Copy of the legal notice for the Guernsey Scheme.

Contact us

If you would like to request copies of any of the documents available, please contact us.