Aviva Insurance has applied to the Commercial Court for orders permitting it consolidate its British and Irish general insurance businesses into one general insurance company. The transfer would not adversely affect policy holders, the court was told.
Mr Justice Peter Kelly admitted the proceedings yesterday to the Commercial Court list and directed the advertising of the petition in national and international newspapers and journals before the hearing of the petition in early November.
He also noted an independent actuary’s report expressed the view the transfer would involve no detriment to policy holders.
Earlier, Denis McDonald SC, for Aviva, said the petition proposed the transfer of the business of Aviva’s Irish company to a British Aviva company – Aviva Insurance Ltd (AIL) – which would continue to carry on the business in Ireland.
That consolidation is being sought following a resolution of the Aviva board at the end of June that the business of Aviva Insurance Europe SE would be transferred to the Irish branch of AIL.
