Insurance Business Transfer

Munich Reinsurance America, Inc. ("Munich Re America")

Great Lakes Reinsurance (UK) PLC ("Great Lakes")

Insurance Business Transfer

The information contained on this page is correct as of 1 January 2009.

High Court Approval

On 16 December 2008, the High Court of England and Wales granted an order sanctioning the Scheme to transfer the general and reinsurance business of Munich Re America UK Branch (“Munich Re America UK”) to Great Lakes Reinsurance (UK) PLC (GLUK). The Scheme became effective at 23:59 on 31 December 2008 and GLUK replaced Munich Re America UK as insurer under each transferred policy. 

Apart from this, the terms of the policies transferred have not changed. The transfer will not affect your existing arrangements in relation to payments, claims or administrative matters.

As it is the intention to close Munich Re America UK during early 2009 once the transfer to GLUK has been effected, the information on this website will remain during 2009 to aid enquiries.

If you have any questions, please call Steve Ward on our help line: +44 203 003 7404. Please note this is a UK number and calls from outside the UK will be international calls.

Background

This page contains information about the transfer of part of the business of Munich Re America to Great Lakes. The business transferred comprises Munich Re America’s UK Branch general insurance and reinsurance business written from 1995 to December 2003 when the branch closed to new business. This business has reached the end of its policy term and is in run-off.

Please feel free to read and download any of the documents on the site. These documents tell you what we have done and what this means for you.

The transfer is governed by English law and overseen by the UK financial services regulator, the FSA and the High Court as Munich Re America UK and the transferee, Great Lakes, are authorised persons in the United Kingdom and the transferring business is carried on in the UK.

The FSA approved the appointment of an Independent Expert, Mr. Fred Duncan of PricewaterhouseCoopers LLP whose role was to consider and report on the likely implications of the transfer for policyholders of Munich Re America and Great Lakes. The FSA also approved the Independent Expert's Report & Supplemental Report on the transfer, which you may access from the list of documents below.

The following documents may be downloaded by clicking on the links below:

> Summary of the Scheme and the Independent Expert's Report
> Sample Policyholder Letter
> Sample Reinsurance Letter
> Press/Legal Notice
> Independent Expert's Report
> Independent Expert's Supplemental Report

Click on a document title above to download the document.
If you are unable to access any of these documents, please call Steve Ward on our help line: +44 203 003 7404. Please note this is a UK number and calls from outside the UK will be international calls.