Royal & Sun Alliance Insurance plc
With the exception of certain excluded policies described below, the Scheme will transfer from RSAI to Mercantile all of RSAI’s commercial general insurance policies that include liability cover and that were either: (i) written by or on behalf of RSAI prior to 2006, or (ii) written by or on behalf of another insurer prior to 2006 and transferred to RSAI prior to 7 February 2017.
The excluded policies referred to above that will not transfer under the Scheme comprise:
(A) policies that relate solely to marine or motor liabilities;
(B) policies underwritten by a branch or agency incorporated or domiciled outside the UK;
(C) any policy that was transferred to RSAI from Harworth Insurance Company Limited pursuant to a transfer agreement dated 20 December 2013;
(D) any policy underwritten by or on behalf of RSAI through the insurance pool managed by International Oil Insurers;
(E) any policy underwritten by or on behalf of RSAI through the insurance pool managed by the British Insurance (Atomic Energy) Committee for American Risks;
(F) any policy underwritten by or on behalf of RSAI or Royal & Sun Alliance Reinsurance Limited (as reinsurer) to Arrowood Indemnity Co or any company controlled by Arrowpoint Capital (as cedant);
(G) any domestic mortgage indemnity policy;
(H) any policy underwritten by RSAI in respect of business written by any strategic network partner in its home territory pursuant to a Producing Office Agreement with RSAI; and
(I) a small number of specific policies which are identified by policy number in the formal documentation for the Scheme.
The Scheme will also transfer various business contracts from RSAI to Mercantile, including all or part of certain outwards reinsurance contracts, as explained further in section 5.2 below.
The RSAI business, comprising policies and business contracts and associated assets and liabilities, that is to be transferred to Mercantile by the Scheme is referred to as the “RSAI Transferred Business”.