OnePath General Insurance Pty Limited (OnePath General) and Zurich Australian Insurance Limited (Zurich) give notice of their intention to make a joint application to the Federal Court of Australia (the Court) seeking confirmation of a scheme (the Scheme) under Division 3A, Part III of the Insurance Act 1973 (Cth) to transfer the insurance business of OnePath General into Zurich.
The confirmation hearing is scheduled for 16 November 2023, or such other date and time as the Court determines. The proposed effective date of the transfer is 1 December 2023.
Should the Scheme be confirmed, OnePath General policies will be treated as if they had been issued and administered by Zurich rather than OnePath General.
This consolidation of Zurich Australia’s two general insurers will assist us in managing our regulatory requirements more efficiently and simplify financial, operational and administrative processes.
For further information, and to access the Scheme documents, visit www.onepath.com.au/general-scheme or www.zurich.com.au/general-scheme