Check below for the communication regarding the transfer of the entire business of IRB(Re)’s UK branch to Community Reinsurance Corporation Limited (CRCL):
IRB-Brasil Resseguros S.A (“IRB”) Part VII Transfer of the entire business of IRB’s UK branch to Community Reinsurance Corporation Limited (“CRCL”)
IRB and CRCL have applied to the High Court of England and Wales (the “Court”) for an Order under Section 111(1) of the Financial Services and Markets Act 2000 (“FSMA”) sanctioning a scheme (the “Scheme”) providing for the transfer of the entire business of the UK branch of IRB (the “Transferring Business”) to CRCL and making ancillary provisions in connection with the Scheme under Sections 112 of FSMA (the “Application”).
The Scheme, if sanctioned by the Court, will transfer all the contracts, property, assets and liabilities relating to the Transferring Business to CRCL.
Copies of the report on the terms of the Scheme prepared by an Independent Expert in accordance with section 109(1) of FSMA and of a statement setting out the terms of the Scheme and containing a summary of the independent expert’s report, and a copy of the full Scheme document, may be obtained free of charge on the dedicated website for the Scheme at https://www.communityre.co.uk/.
Supporting documents and any further news about the Scheme, as well as how to raise any questions or objections in relation to the Scheme, will be posted on that website so you may wish to check for updates. You can also request free copies of any of these documents by contacting CRCL using the contact details found at that website.
