Part 9 / Division 3A Transfers
TRANSFER OF ST ANDREW'S INSURANCE(AUSTRALIA) PTY LTD BUSINESS TO HALLMARK GENERAL INSURANCE COMPANY AND ST ANDREW'S LIFE INSURANCE PTY LTD TO HALLMARK LIFE INSURANCE COMPANY LTD
This website provides important information about the upcoming proposed transfer of St Andrew's Insurance (Australia) Pty Ltd business to Hallmark General Insurance Company and St Andrew's Life Insurance Pty Ltd business to Hallmark Life Insurance Company Ltd.
We intend to seek approval from the Federal Court of Australia for confirmation to transfer:
- The insurance business of St Andrew’s Insurance (Australia) Pty Ltd to Hallmark General Insurance Company under Division 3A of Part III of the Insurance Act (Cth); and
- The insurance of St Andrew’s Life Insurance Pty Ltd to Hallmark Life Insurance Company Ltd under Part 9 of the Life Insurance Act (Cth)
Division 3A & Part 9 are referred to collectively as the 'Schemes'.
If confirmed by the Court, the Schemes will transfer the assets and liabilities of:
- St Andrew’s Insurance (Australia) Pty Ltd insurance policies to Hallmark General Insurance Company Ltd and
- St Andrew’s Life Insurance Pty Ltd insurance policies to Hallmark Life Insurance Company Ltd.
The application for confirmation of the Schemes is scheduled to be heard by the Court on 30 July 2024. The Schemes are proposed to take effect on 31 July 2024.
OVERVIEW
Read more about the story so far
What Does this scheme mean for you
The transfers which will be effected by the schemes, are part of an important process being undertaken by the St Andrew's Insurance Group to consolidate the business, however policyholders do not need to do anything before or after the transfers.
There will be no changes to policy terms and conditions, including the level of cover or the service that policyholders are entitled to.
Scheme Documents
Documents relating to the Schemes are linked below and physical copies of these documents will also be available for public inspection at a location in each State and Territory. These documents include scheme summaries, which provides a summary of each of the proposed Schemes.