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Insurance
Part VII and Section 13 transfers
The key to a successful Section 13 (Part VII in the UK) transfer is combining careful planning with clear communication.
Our experts help clients anticipate key issues, prepare thoroughly for each stage of the transfer and communicate clearly to regulators, policyholders and the Court, ensuring a smooth transfer process.
We have significant experience advising insurers on Section 13 transfers (Part VII in the UK). Four of our partners have acted as the Independent Actuary (IA) or Independent Expert (IE - UK) in recent transfers and we have a large team of consultants and analysts with experience in all aspects of the work.
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The risk function of the future
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Solvency II: Navigating evolving and emerging risks
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We have carefully developed our approach to help clients ensure a smooth Section 13/Part VII transfer process
We focus on three key elements:
- Thorough preparation at the outset, ensuring that the fundamentals of the proposed transfer are sound and helping clients to pre-empt the likely avenues of regulatory challenge
- An agreed plan for the collation and analysis of all evidence needed to support the IA/IE’s opinion, giving clients clarity on what is needed and time to prepare it
- Clear and concise IA/IE reports written in policyholder-friendly language, making it easy for the Court to understand the justification for the transfer
This is a proven approach based on our learnings from many past transfers. The aim is to de-risk the transfer process for clients by communicating effectively with all stakeholders, including regulators and the Court.
