Notice of intention to apply to the Federal Court of Australia for confirmation of a scheme under Part 9 of the Life Insurance Act 1995 (Cth) to transfer the insurance business of St Andrew’s Life Insurance Pty Ltd (ABN 98 105 176 243) to Hallmark Life Insurance Company Ltd (ABN 87 008 446 884).

Notice is given that St Andrew’s Life Insurance Pty Ltd (ABN 98 105 176 243) (St Andrew’s Life) intends to apply to the Federal Court of Australia (the Court) for orders confirming a scheme under Part 9 of the Life Insurance Act 1995 (Cth) for the transfer of the insurance business carried on by St Andrew’s Life in Australia (Insurance Business) to Hallmark Life Insurance Company Ltd (ABN 87 008 446 884) (Hallmark Life).  Hallmark Life and St Andrew’s Life are both wholly owned by St Andrew’s Australia Services Pty Ltd (ABN 75 097 464 616).

If the Scheme is confirmed by the Court, the Insurance Business of St Andrew’s Life will be transferred to Hallmark Life and Hallmark Life will be substituted for St Andrew’s Life as the insurer under policies underwritten by St Andrew’s Life.  Any future claims made in respect of those policies will be handled by Hallmark Life.  The process to lodge a claim under a transferring policy will not change.  

Persons affected by the Scheme may request to be heard by the Court.

The hearing of the application will be held on 30 July 2024 (or on such other date as the Court appoints) at the Federal Court of Australia, which is located at 184 Phillip Street, Sydney NSW 2000.

Any person who in the Court's opinion may be affected by the Scheme (Affected Policyholders), has the right to attend the Court hearing and request to be heard by the Court on the application for confirmation of the Scheme.

Affected Policyholders are encouraged to take notice of the Scheme and consider whether they wish to attend and be heard at the hearing. If you wish to be heard at the hearing on 30 July 2024, kindly inform our lawyer, Ms Natalie Caton of DLA Piper Australia at least three (3) days before that date. Ms Caton’s contact details are as follows:

Affected Policyholders are not required to take any action if they have no objection to the Scheme.

Copies of this Notice, the Scheme, a summary of the Scheme approved by the Australian Prudential Regulation Authority (Scheme Summary), an Actuarial Report prepared by the Joint Appointed Actuaries of St Andrew’s Life and Hallmark Life and an independent Actuarial Report prepared by David Goodsall of Synge & Noble upon which the Scheme is based (collectively the Scheme Documents) will be available at www.standrews.com.au from 12 June 2024 until the date of the hearing. 

On request, an Affected Policyholder may obtain a full copy of the Scheme Documents by contacting St Andrew’s Head office on 1300 737 211 during the hours of 8:30am to 7:00pm Monday to Friday AEST or by email at schemedocuments@standrews.com.au . 

Affected Policyholders may also obtain copies (free of charge) or inspect the Scheme Documents between 12 June 2024 to 5 July 2024 (inclusive), between 9:00am and 5:00pm, Monday to Friday (other than weekends and public holidays) at the offices of DLA Piper Australia or Ernst & Young and HWL Ebsworth at the following addresses:

Should you require any further information or have any concerns about the proposed Scheme, please contact St Andrew’s Head Office on 1300 737 211 during the hours of 8:30am to 7:00pm Monday to Friday AEST (except public holidays).