INSURANCE COMPANIES ORDINANCE- (CAP. 41 OF THE LAWS OF HONG KONG)
NOTICE OF APPLICATION FOR APPROVAL OF TRANSFER OF GENERAL BUSINESS (pursuant to Section 25D)
The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited
NOTICE IS HEREBY GIVEN that, pursuant to section 25D of the Insurance Companies Ordinance, an application has been made by The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited, a company incorporated in Bermuda (the "Company"), to the Insurance Authority of Hong Kong (the "Insurance Authority") for approval of a proposed transfer (the "Transfer") of the whole of the general insurance business carried on by the Company in or from Hong Kong on or before 12:00 noon (Greenwich Mean Time) on 31 October 2014 to The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited, a company incorporated in England and is authorised by the Insurance Authority to carry on the relevant classes of general insurance business in or from Hong Kong.
Subject to the approval of the Transfer by the Insurance Authority, it is proposed that the Transfer shall take effect as of 12:00 noon (Greenwich Mean Time) on 20 February 2015.
Copies of a report setting out the particulars of the Transfer and of all legal proceedings, begun or in contemplation, relating to any of the policies included in the Transfer are available for inspection by any person having an interest in the Transfer at Suites 1201-1204, Sino Plaza, 255-257 Gloucester Road, Causeway Bay, Hong Kong during normal office hours from the date of this notice until 28 January 2015.
Upon completion of the Transfer, the Company will cease to carry on any class of insurance business in or from Hong Kong and apply to the Insurance Authority for withdrawal of its authorisation to carry on such business pursuant to section 40(1) of the Insurance Companies Ordinance.
Written representations concerning the Transfer or any objection to the subsequent withdrawal of the Company’s authorisation may be sent to the Insurance Authority at 21st Floor, Queensway Government Offices, 66 Queensway, Hong Kong at any time on or before 28 January 2015.
Dated this 28 November 2014.
The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited Suites 1201-1204, Sino Plaza, 255-257 Gloucester Road, Causeway Bay, Hong Kong