On 22 July 2015 the High Court of Justice in London made an Order approving the transfer of the entire business of Faraday Reinsurance Co.Limited (“Faraday Re”). In accordance with the Court's Order, the transfer took place at 00.01 am (UK time) on 1 December 2015 (the "Effective Date").
The Faraday Re business has been transferred as follows:
(a) to Faraday Capital Limited (“FCL”):
- (i) the entire direct insurance business of Faraday Re, (including the direct insurance business which was transferred to Faraday Re from General Star International Indemnity Ltd. (“GSIIL”) pursuant to a scheme under Part VII of the Financial Services and Markets Act 2000 by an order of the Court dated 9 November 2010, (“the 2010 Scheme”)); and
- (ii) the reinsurance business of Faraday Re which was transferred to Faraday Re from GSIIL pursuant to the 2010 Scheme (“the GSIIL Reinsurance Business”).
(b) to the UK branch of General Reinsurance AG (“GRAG”): the entire reinsurance business of Faraday Re other than the GSIIL Reinsurance Business.
All queries relating to the business conducted by Faraday Re should be directed to Faraday Underwriting Limited for the attention of your normal Faraday contact. You may also contact Liz Richardson (tel: +44 20 7702 3333 and email email@example.com).