At a hearing on Tuesday 20 December 2011, the Court of Session in Edinburgh gave its approval to our proposal to transfer the entire business of Standard Life Investment Funds Limited (SLIF) to Standard Life Assurance Limited (SLAL). Both companies are authorised and regulated by the Financial Services Authority (FSA).
The transfer will happen at 23.59 (GMT) on 31 December 2011. As a result of the transfer, all the reinsurance arrangements in place between SLIF and other insurance companies will transfer to SLAL. We wrote to all these companies and certain institutional investors in October to explain how the changes might affect them. No other clients or policyholders of the Standard Life Group are affected by this transfer.
SLAL and SLIF both carry on long term insurance business and SLAL is the main life and pensions company within the Standard Life Group. SLIF is a wholly-owned subsidiary of SLAL. The majority of its business is reinsured from SLAL and its only other policyholders are other insurance companies.
If you would like to know more about the original transfer proposal, or would like to see copies of the Court Order sanctioning the transfer - you can download documents using the links below:
The 2006 Scheme is a long and complex document and is available on special request.
