1 December 2023
The insurance business of OnePath General Insurance Pty Limited (OnePath General) has today transferred to Zurich Australian Insurance Limited (Zurich).
On 16 November 2023, the Federal Court of Australia confirmed a Scheme to transfer OnePath General’s insurance business to Zurich, under Division 3A, Part III of the Insurance Act 1973 (Cth).
On 1 December 2023, the Scheme transferred OnePath General’s assets and liabilities, including all insurance policies issued by OnePath General, to Zurich. OnePath General has, however, retained assets required to meet regulatory capital requirements.
What does this mean for policyholders?
Policyholders do not need to take any action as a result of the transfer.
Existing OnePath General policies have automatically transferred to Zurich, and insurance cover under OnePath General policies has not changed as a consequence of the transfer.
For OnePath General policyholders, other than a change to the insurer, there will be no changes to their policy terms and conditions. OnePath General policyholders will continue to experience the same levels of service they have experienced to date.
The OnePath brand will remain in market, continuing a proud heritage of protecting Australians when it comes to their insurance needs.
Any questions about the transfer should be directed to the Zurich Customer Care team:133 667, weekdays between 8:30am and 5:00pm