We're proposing to simplify the business of the Scottish Widows Group of companies. This will involve transferring all the policies of certain companies in the Group into a single company within the Group: Clerical Medical Investment Group Limited, which will be renamed Scottish Widows Limited.
The proposals are subject to approval by the High Court in London. If implemented, these proposals will simplify our company structure, allowing the Group to improve efficiency and make better use of our resources. If approved, the date the changes will come into effect is 31 December 2015, which we refer to as the “Effective Date”.
Full details of the transfer are contained in what is known as a “Scheme” - you can find a copy of this in our library.
As a result of the legal requirements relating to transfers of insurance business in Guernsey and Jersey, there will be similar schemes in relation to business carried on in these jurisdictions. Documents explaining these in detail are also available from the library.