Chartis has taken a significant step to show its commitment to the Australian insurance market. This follows the successful rebranding to Chartis last year.
Chartis Chief Executive Officer Noel Condon has informed policyholders they are proposing to transfer the business conducted by the Australian branch of American Home to their local Australian subsidiary Chartis Australia Insurance Limited (CIAL).
American Home Assurance Company trading as American Home is a United States company that has operated in Australia via a branch operation for over 50 years. Both American Home and CIAL are part of the global Chartis group, and are authorised as general insurers by the Australian Prudential Regulation Authority (APRA).
Condon says, “The reason for this intra-group transfer is primarily to update our corporate structure, with CIAL to become the Chartis general insurer in Australia.
Before the transfer scheme can become effective, the Federal Court of Australia must first confirm the scheme as explained in the attached scheme summary. Please read the scheme summary carefully and you can contact us via the details provided in the scheme summary if you have any questions. Please note that as a policyholder you are not required to take any action before or as a result of the scheme. However, you may request to be heard by the Federal Court on the application for confirmation of the scheme.”
Condon says, “The transfer will not change policy terms or affect any claim under policies other than that CIAL will be the insurer. We also do not anticipate that there will be any changes to our operations as a result of the transfer and, via CIAL, our staff, our products and our service will continue unaltered other than the necessary name change.”
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