Notice of Intention to make an application to the Federal Court of Australia for confirmation of a Scheme for the transfer of the insurance business of OnePath General Insurance Pty Limited to Zurich Australian Insurance Limited under Division 3A of Part III of the Insurance Act 1973

 

Notice is given that OnePath General Insurance Pty Limited ABN 56 072 892 365 (OnePath General) and Zurich Australian Insurance Limited ABN 13 000 296 640 (Zurich) propose to make a joint application to the Federal Court of Australia seeking confirmation of a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) to transfer the insurance business of OnePath General to Zurich (Scheme).  On 31 May 2019, OnePath General was acquired by the Zurich group from the Australia and New Zealand Banking Group and the Scheme is being undertaken as part of an internal reorganisation of the Zurich group. 

 

Should the Scheme be confirmed by the Federal Court of Australia:

on or about 1 December 2023.

 

The date fixed for the hearing of the application is 16 November 2023 at 10am AEST or on such other date and time as the Federal Court appoints.  The hearing will be held at the New South Wales Registry of the Federal Court of Australia, which is located at the Law Courts Building, Queens Square, Sydney NSW 2000.

 

Any person who may be affected by the Scheme (Affected Policyholders) can attend the Federal Court hearing and request to be heard by the Federal Court on the application. 

 

If you'd like to be heard at the hearing, it would assist if you could please contact our lawyers, MinterEllison (Attention: James Beaton), Governor Macquarie Tower, 1 Farrer Place, Sydney NSW 2000 (telephone 02 9921 8888) between 9am and 5pm Monday to Friday, at least three business days before the hearing date.

 

Affected Policyholders aren’t required to take any action if they have no objection to the Scheme.

 

A copy of this notice, the Scheme, a summary of the Scheme approved by the Australian Prudential Regulation Authority (Scheme Summary) and the actuarial report prepared jointly by the appointed actuary of OnePath General (Mr Kevin Gomes) and Zurich (Mr James Goodchild) on which the Scheme is based and an independent actuarial report prepared by Ms Niki Appleton of Deloitte on the Scheme (Actuarial Reports) will be available free of charge to view or download at www.zurich.com.au/general-scheme and www.onepath.com.au/general-scheme from 28 August 2023. 

 

Any person may also obtain a copy of these documents free of charge by calling or emailing the OnePath General and Zurich contact centre teams during the hours 8.30am to 5pm AEST Monday to Friday during the period 23 August 2023 to 16 November 2023 (except public holidays in New South Wales) using the details below:

 

­        Telephone: 1800 161 167

­        Email: division3ascheme@onepath.com.au

­        Website: onepath.com.au/general-scheme

 

­        Telephone: 1800 161 166

­        Email: division3ascheme@zurich.com.au

­        Website: zurich.com.au/general-scheme

 

Copies of these documents will also be available for inspection during the hours of 9am to 5pm (local time) Monday to Friday during the period 18 September 2023 to 20 October 2023 (except public holidays in the relevant State or Territory) at the following locations.  You can also request a free copy of the scheme documents at these locations during these times. 

 

New South Wales

MinterEllison

Level 40, Governor Macquarie Tower

1 Farrer Place

Sydney NSW 2000

Victoria

MinterEllison

Level 20, Collins Arch

447 Collins Street

Melbourne 3000

Queensland

MinterEllison

Level 22, Waterfront Place

1 Eagle Street

Brisbane QLD 4000

Australian Capital Territory

MinterEllison

Constitution Place

1 Constitution Avenue

Canberra City 2601

Western Australia

MinterEllison

Level 4, Allendale Square

77 St Georges Terrace

Perth WA 6000

Northern Territory

MinterEllison

Level 1, 60 Smith Street

Darwin NT 0800

South Australia

MinterEllison

Level 10, Grenfell Centre

25 Grenfell Street

Adelaide SA 5000

Tasmania

Dobson Mitchell Allport

59 Harrington Street

Hobart TAS 7000

 

Should you require further information or have any concerns about the proposed Scheme, please contact OnePath General’s Scheme Contact Centre on 1800 161 167 or Zurich’s Scheme Contact Centre on 1800 161 166. 

 

We recommend that each Affected Policyholder obtain a copy of and review the Scheme, the Scheme Summary and the Actuarial Reports, which contain a discussion of the impact of the Scheme on policyholders.

 

Signed by the Company Secretaries of OnePath General (Cathy Manolios and Joong Harrison) and Zurich (Cathy Manolios and David Hallahan).

 

 

Signature of Cathy Manolios (Company Secretary of OnePath General and Zurich)

 

   Signature of Joong Harrison (Company Secretary of OnePath General)    Signature of David Hallahan (Company Secretary of Zurich)

Cathy Manolios    Joong Harrison    David Hallahan