Deals of the Year 2023: Ground breaking project bolsters Ireland’s aims to become major player in international schemes of arrangement
In the first insurance scheme of arrangement of its type undertaken in Ireland, Royal London UK transferred with-profits and contingent bonus policies originally sold in Ireland to Royal London Ireland so that they could be administered by the latter following the UK’s departure from the EU. The only scheme of arrangement ever undertaken by an Irish insurance company to distribute the estate of a with-profits fund, it was completely novel in an Irish context.

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This article appeared in the May 2023 edition.