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).
Cathy Manolios Joong Harrison David Hallahan