Welcome to the Hiscox Insurance Company Part VII transfer information site. Here you will find a brief overview of the legal process and a timetable of events. Documents containing further information about the Proposed Transfer will become available during August following the Directions Hearing.
Why is the transfer being proposed?
In response to the UK’s decision to leave the European Union, commonly known as ‘Brexit’, we are proposing to make some necessary changes to our business. These will ensure continuity of cover to all our customers with European risks, so that we can continue to service our policyholders and claimants in the UK and across Europe post-Brexit. To make these changes we are using a legal insurance business transfer process known as a Part VII transfer.
The legal process
The Part VII process is governed by the Part VII of the Financial Services and Markets Act 2000 and is subject to the approval of the High Court of England and Wales (the High Court).
If you have any concerns regarding the Proposed Transfer and how it may affect you, you have the right to make a written representation to the High Court or to be heard at the High Court hearing (in person or through legal representation).
You may also raise these concerns with us in writing or over the telephone and we will make a record of your concerns and communicate these to our regulators (the Prudential Regulation Authority, the Financial Conduct Authority), the Independent Expert and the High Court. You can find our contact details below.
Timetable of events
|2 August 2018||Directions Hearing at the High Court to seek approval for Hiscox Insurance Company to begin notifying policyholders of the Proposed Transfer|
|6 August 2018||Directions Hearing at the Royal Court of Jersey, to seek approval for Hiscox Insurance Company to begin notifying policyholders of the Proposed Transfer|
|14 December 2018||Sanction Hearing at the High Court Rolls Building, Royal Court of Justice, 7 Rolls Building, Fetter Lane, London EC4A 1NL|
|17 December 2018||Sanction Hearing at the Royal Court of Jersey, Royal Court House, Royal Square, St Helier, Jersey, JE1 1JG|
|1 January 2019||Effective date of the Proposed Transfer|
It may be necessary to amend the timetable above, so we would encourage you to check back at regular intervals.
Do I need to take any action?
If you do not have any concerns about the Proposed Transfer, or do not wish to raise an objection, then no further action is required by you.
If you do have additional questions or concerns, or wish to raise an objection to the Proposed Transfer, you can contact us in the following ways:
|Part VII communications team||Telephone number||Mailing address||Email address|
|United Kingdom and Ireland||0800 781 3049||
Part VII transfer team
|BMI Norway||To follow||To follow||To follow|
|Nordeuropa Norway||To follow||To follow||To follow|
|Nordeuropa Sweden||To follow||To follow||To follow|
|Norwegian Broker Norway||To follow||To follow||To follow|
|Norwegian Broker Sweden||To follow||To follow||To follow|
|France||To follow||Hiscox France
12 quai des Queyries
Arnulfstraße 31, D - 80636 München
|Netherlands||To follow||Hiscox Nederland
Arent Janszoon Ernststraat 595B
1082 LD Amsterdam
|Portugal||To follow||Hiscox Portugal
Praça Duque de Saldanha no1
Piso 5, 1050-094 Lisboa
Paseo de la Castellana 60, 7ª planta
You can call us from 9.00am to 5.00pm Monday to Friday (excluding bank holidays and public holidays), or 9:00am to 6:00pm for Portugal and Spain.
Please note that our teams are legally prohibited from providing financial advice, but will answer general questions on the effects of the Proposed Transfer.
Important information about the Hiscox Insurance Company Part VII transfer.