Here is some additional information regarding the transfer that you may find helpful.
A report prepared by the Independent
Expert (Mr Oliver Gillespie, FIA) which considered the effect of the transfer on
policyholders. His appointment
was approved by
the Prudential Regulation Authority (PRA) in consultation with the Financial
Conduct Authority (FCA).
The PRA and FCA are
our industry regulators.
The supplementary report sets out the
Independent Expert’s consideration of the likely effect of the transfer on
policyholders in light of developments since his main report, including the
financial position of AWL
and PLL as at
June 2017, and
his conclusion that his opinion of the impact of the Scheme on policyholders
The legal document, setting
out the terms of the transfer, which was approved the High Court.
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.
In their supplementary reports, the Chief
Actuaries of PLL and
developments since their main reports, including the financial position of PLL
and AWL as at 30
June 2017, and
concluded that their respective opinions on the likely effect of the transfer on
policyholders remained unchanged.
AWL has a small number of policies that may
have been issued
people resident in Guernsey. We will 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 took place on 24 November 2017, at the Royal Court of Guernsey, Royal
Court House, St Peter Port, Guernsey GY1 2PB. Policies
of Guernsey residents will transfer to PLL on the same date as all of the other
A draft of the legal document, setting out
the terms of the transfer, which the Royal Court of Guernsey was asked to approve.
You can call our helpline on 0345 129 9993 between 8.30am and 5pm, Monday to Friday.