Zurich transfer of legacy employers’ liability
insurance policies to Catalina
The following information relates to the proposed transfer from Zurich Insurance Company Ltd (Zurich) to Catalina Worthing Insurance Limited (CWIL), a UK-authorised insurance company, of a portfolio of pre-2007 United Kingdom legacy employers’ liability insurance policies (the Transfer). The Transfer is expected to take effect at 23:59 BST on 31 March 2026 if approved by the Court.
Overview of the Transfer
The Transfer will be implemented through an insurance business transfer under Part VII of the Financial Services and Markets Act 2000 (also known as a ‘Part VII transfer’). To go ahead, it must be approved by the High Court in England and Wales.
The terms of the Transfer are detailed in the UK Scheme document. You can find a copy of the UK Scheme document and the summary of the UK Scheme document below.
A Part VII transfer process is designed to protect the interests of affected parties such as, policyholders and claimants who may be impacted by the transfer.
This includes:
- The appointment of an independent expert (who has been approved by the Prudential Regulation Authority (PRA) in consultation with the Financial Conduct Authority (FCA) to assess the likely impact of the Transfer on policyholders of Zurich and CWIL and other affected parties. A copy of the full report of the independent expert, as well as a summary, can be found below.
- Consultation with the PRA and the FCA, who will assess the Transfer and provide a report to the High Court.
- The requirement for the Transfer to be approved by the High Court in England and Wales. Such approval will only be granted if the Court considers it appropriate in all the circumstances.
- The ability for a policyholder or other party who believes they could be negatively affected by the Transfer to raise concerns about, or object to, the Transfer before it takes effect.
If approved, CWIL will replace Zurich as the insurer of the policies included in the Transfer. This means existing and future claims will be handled and paid by CWIL instead of Zurich. The Transfer will not change the terms of affected policies, the level of cover provided or affect the status of any claim.
CWIL UK service company already administers claims on behalf of Zurich for the transferring policies. This means there will be no interruption of claims.
Only employers’ liability will transfer to CWIL. If a policy included in the Transfer has cover for other risks (such as product or public liability), Zurich will continue to be the insurer in respect of this cover.
Jersey Scheme
The transfer of any policies relating to business carried on in, or from within, Jersey (the Jersey Scheme) will be carried out under the Insurance Business Law (Jersey) Law 1996, subject to approval by the Royal Court of Jersey (the Jersey Court). The transfer will include consultation with the Jersey Financial Services Commission, who will assess the Transfer and provide a report to the Jersey Court.
Updates in relation to the High Court Sanction Hearing
and the Jersey Court Sanction Hearing will be posted on this webpage.
CONTACT US
If you have any questions, please get in touch:
Freephone telephone:0800 652 0595
International telephone: +44 3330 491 080
E-mail: zurichtransfer@catalinare.com
Write to: Catalina Worthing Insurance Limited, c/o Davies Specialist Services, PO Box 81791, London. EC3P 3GB.
If you are a Zurich policyholder, or want to refer to information relating to the Transfer published by Zurich, please click on the link below.