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Transfer of European business

On 11th December 2018, the High Court of England and Wales sanctioned the transfer of the long-term European business (excluding the UK) of The Prudential Assurance Company Limited (PAC) to Prudential International Assurance plc (PIA). The transfer of the business took place at 00.01 hrs (GMT) (01:01 hrs (CET)) on 1 January 2019.

What this means for you

We’re transferring these policies from PAC to PIA:

  • PAC Poland policies
  • PAC France policies
  • PAC Malta policies
  • Policies written in Germany and Ireland that were transferred from the Equitable Life Assurance Society (ELAS) in 2007 as part of a wider transfer of business.

This won't affect PIA's relationship with its parent company PAC, and PIA remains part of the Prudential group.

The terms and conditions of your PIA policy, and the way it's run, will all stay the same.

The transfer was subject to scrutiny from our regulators and from an Independent Expert, whose appointment was approved by the PRA. The FCA, PRA and the Independent Expert raised no objections to the transfer.  It was also subject to Court approval following communication with the affected policyholders, who were sent information packs between July and August 2018.

Important Documents relating to the transfer

Policyholder letter

This letter is specific to the PIA policyholders.

Download letter

Policyholder Information Booklet

This booklet contains a Questions and Answers section as well as a summary of the Scheme, a summary of the Independent Expert Report and a copy of the Legal Notice of Transfer.

Download Booklet

Scheme Document

This document sets out the terms of the transfer.

Download Document

Independent Expert Report

This document sets out the Independent Expert's analysis of the impact of the transfer on policyholders. A summary of the Independent Expert Report is in the 'Policyholder Information Booklet'.

Download Report

Supplementary Report of the Independent Expert

Updated assessment of the likely effects of the proposed transfer.

Download Report

PAC Chief Actuary Report

The Chief Actuary of The Prudential Assurance Company Limited (PAC) provides a report on the impact of the transfer on transferring and non-transferring PAC policyholders.

Download Report

Supplementary Report of the Chief Actuary of PAC

The purpose of this Supplementary Report is to review any developments that have occurred since the Main Report was produced.

Download Report

PAC With-Profits Actuary Report

The PAC With-Profits Actuary reports on the impact of the transfer on transferring and non-transferring PAC with-profits policyholders.

Download Report

With-Profits Actuary Supplementary Report

The purpose of this Supplementary Report is to review any developments that have occurred since the Main Report was produced.

Download Report

PIA Head of Actuarial Function Report

The PIA Head of Actuarial Function at Prudential International Assurance plc (PIA) provides a report on the impact of the transfer on transferring and non-transferring PIA policyholders.

Download Report

Supplementary Report of the Head of Actuarial Function of PIA

The purpose of this Supplementary Report is to review any developments that have occurred since the Main Report was produced.

Download Report

Contact us

Write to us:

Prudential International Insurance plc, Montague House, Adelaide Road, Dublin 2, Ireland

Call us

+353 1 476 5893 or Freephone 0808 1686 204 if you are calling from within the UK

9am - 5.30pm GMT, Monday to Friday, except on bank holidays

Email us:

transferteam@pru-europe.com