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Here is some additional information regarding the proposals that you may find helpful.
A report prepared by the Independent
Expert (Mr Oliver Gillespie, FIA) which considers the effect of the transfer on
policyholders. His appointment
been approved by
the Prudential Regulation Authority (PRA) in consultation with the Financial
Conduct Authority (FCA).
The PRA and FCA are
our industry regulators.
A draft of the legal document, setting
out the terms of the transfer, which the High Court will be asked to approve.
The Chief Actuary is an actuary who has been
appointed by an insurer to provide guidance to the Board on actuarial matters.
The Chief Actuary of Phoenix Life Limited
a report regarding the impact of the transfer on the policyholders of PLL.
The Chief Actuary of AXA
Wealth Limited (AWL)
prepared a report regarding the impact of the transfer on the policyholders of AWL.
AWL has a small number of policies that may
have been issued
people resident in Guernsey. We are proposing to transfer these
policies separately under a Guernsey Scheme. The Guernsey scheme is on substantially the
same terms as the UK Scheme.
The Guernsey Court hearing is expected to
take place on 24 November 2017, at the Royal Court of Guernsey, Royal
Court House, St Peter Port, Guernsey GY1 2PB. If the Guernsey scheme is approved, policies
of Guernsey residents will transfer to PLL on the same date as all of the other
policies. If the UK Scheme is approved but the Guernsey scheme is not approved,
the Guernsey policies will remain with AWL but will be reinsured to PLL.
A draft of the legal document, setting out
the terms of the transfer, which the Royal Court of Guernsey will
be asked to approve.
Please use the below enquiry form for enquiries only relating to the recent communication of transfer of business from AXA Wealth Limited to Phoenix Life Limited. Alternatively, you can call our dedicated helpline on 0808 164 2266 between 9am and 5pm, Monday to Friday until the High Court hearing date. Calls from the UK are free but may be charged from the Channel Islands. If you are calling from overseas please call +44 (0)333 006 3523. There may be a charge when dialling from overseas.
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