Scheme of Arrangement for the SLFC Assurance UK With-Profits Fund

On 6 December 2016, we wrote to our customers who have policies in the SLFC Assurance UK With-Profits Fund. We asked them to vote on our proposal to convert their with-profits policy to a non-profit policy by way of a Scheme of Arrangement (“the Scheme”).

We enclosed the following documents with this letter:

More Information

The legal and actuarial reports (which are of a technical nature) prepared regarding the Scheme are available for you to download:

Press notice
Copy of the press advertisement Adobe PDF document

Timetable of principal events

5pm, Wednesday 11 January 2017 Proxy voting forms must be received online.
5pm, Thursday 12 January 2017 Proxy voting forms must be received by post.
11am, Friday 13 January 2017 Policyholder Meeting at The Wesley Hotel, 81-103 Euston Street, London, NW1 2EZ. This is convened with the Court’s permission for the purpose of considering and voting on the Scheme.
18 January 2017 Proposed date for Court hearing to sanction the Scheme (subject to Policyholders voting in favour of the Scheme).
1 February 2017 - Effective Date When the Scheme takes effect (subject to Policyholders voting in favour of the Scheme and the Court sanctioning the Scheme).
1 April 2017 - Final Implementation Date When Guaranteed Annual Increases and Guaranteed Final Increases (where applicable) take the place of existing Reversionary Bonuses and Terminal Bonuses (where applicable).