Transfer Scheme
Transfer scheme between American Home Assurance Company trading as Chartis and Chartis Australia Insurance Limited
On 1 March 2011 the business conducted by the Australian branch of American Home Assurance Company (American Home) was transferred to our local Australian subsidiary Chartis Australia Insurance Limited (CAIL). Both American Home and CAIL are part of the global Chartis group, and are authorised as general insurers by the Australian Prudential Regulation Authority.
The reason for this intra-group transfer is primarily to update our corporate structure, with CAIL to become the Chartis general insurer in Australia.
The transfer will not change your policy terms or affect any claim under your policy other than that CAIL will be the insurer. We also do not anticipate that there will be any changes to our operations as a result of the transfer and, via CAIL, our staff, our products and our service will continue unaltered other than the necessary name change.
Key documents, including the summary of the scheme and cover letter sent to policyholders are below:
- Summary of scheme
- Cover letter of summary of scheme
- Scheme
- Notice of intention published in the Commonwealth of Australia Gazette, The Australian, The Australian Financial Review and certain state and territory newspapers
- Actuarial report by Mr Geoff Atkins of Finity Consulting Pty Limited.