Royal & Sun Alliance Insurance Plc (RSAI) – proposed transfer of business in response to Brexit


As a result of the United Kingdom’s (UK) prospective withdrawal from the European Union (EU) (commonly known as “Brexit”), RSAI is proposing to transfer certain insurance and reinsurance business, including certain Charterama policies, to RSA Luxembourg S.A. (RSAL), a subsidiary of RSAI incorporated in Luxembourg. RSAL is authorised by the Luxembourg Minister of Finance and supervised by the Commissariat Aux Assurance, the Luxembourg insurance regulator.

These changes are required to ensure that RSA are able to continue to service their European business following Brexit. If the proposed transfer does not take place and the UK does withdraw from the EU, then it may not be legally permissible for RSAI to pay valid claims in respect of its European Business following Brexit.

The proposed transfer will have no effect on the terms and conditions of existing Charterama policies or claims, but the insurer under certain existing Charterama policies will change from RSAI to RSAL. Please note that Charterama policies (and claims attached to these policies) written by the UK establishment of RSAI between 1 November 2012 and 31 December 2015 will transfer to RSAL only to the extent they are in respect of risks located in an European Economic Area (EEA) state other than the UK. To the extent that these Charterama policies (and claims attached to these policies) are in respect of risks located in the UK or another non-EEA jurisdiction, they will remain insured by RSAI but claims will continue to be administered by Charterama. You may, therefore, be a policyholder of both RSAI and RSAL. All Charterama policies (and claims attached to these policies) written by either the Netherlands or Belgium Branches of RSAI from 1 January 2016 onwards will be transferred to RSAL.

The proposed transfer is being effected under UK law through an insurance business transfer scheme (Scheme) pursuant to Part VII of the UK Financial Services and Markets Act 2000 and is subject to regulatory and legal approvals and, if approved, is currently expected to take effect immediately following midnight (UK time) on 1 January 2019.

Further information regarding the proposed transfer is available at