Zurich Australian Insurance Limited (ABN 13 000 296 640) (“Zurich”) is proposing to transfer its New South Wales motor vehicle compulsory third party insurance portfolio written under the NSW motor accidents CTP insurance regime governed by the Motor Accidents Act 1988 (NSW), the Motor Accidents Compensation Act 1999 (NSW) and the Motor Accident (Lifetime Care and Support) Act 2006 (NSW) (“NSW CTP Portfolio”) to Gordian RunOff Limited (ABN 11 052 179 647) (“Gordian”) (the “Proposed Transfer”). Gordian is an Australian Prudential Regulation Authority (“APRA”) authorised general insurer and a wholly owned subsidiary of Enstar Group Limited (registered in Bermuda under company number 30916) (“Enstar”).
The Proposed Transfer is to be made under a Scheme that requires confirmation by the Federal Court of Australia (“Court’) under Division 3A of Part III of the Insurance Act 1973 (Cth) (“Act”).
The Scheme will only take effect after it has been confirmed by the Court.
Please refer to the attached documents which provide further information in respect of the Scheme:
(a) Notice of Intention;
(b) the Scheme;
(c) the Scheme Summary;
(d) the actuarial report of Geoff Atkins from Finity dated 13 November 2018, on which the Scheme is based; and
(e) the actuarial report of Kaise Stephan from Deloitte dated 14 November 2018, on the Scheme.
Should you have any queries please contact Zurich's Customer Care Centre on 1800 290 838 during the hours of 9.00 am to 5.00 pm AEST Monday to Friday during the period 21 November 2018 to 18 December 2018 (except public holidays in New South Wales).