Business to be transferred
As part of the reorganisation planned in connection with the Part VII transfer, USAA International Services SARL has applied to cancel its authorisation under the UK Temporary Permission Regime and to be appointed as an Appointed Representative of USAA S.A. with effect from 31 December 2022.
Subject to the approval of the High Court of England and Wales, it is proposed that, with effect from 23:59 (Central European Time) on 31 December 2022, all of USAA Limited's insurance business will be transferred to USAA S.A. (policies originally issued to policyholders in the European Economic Area and all related assets and liabilities will transfer to USAA S.A.'s head office whereas policies originally issued to policyholders in the United Kingdom and all related assets and liabilities will transfer to UK branch of USAA S.A.).
Please note an amended version of the scheme document has been uploaded where further clarification is provided on Point E relating to the excluded EEA assets (Page 2 of the document).
The Court must approve the Proposed Transfer for it to go ahead. The Court will consider whether the Proposed Transfer will adversely affect policyholders and whether it is appropriate to approve the Proposed Transfer. The Court hearing took place on 21 November 2022 at the High Court of Justice, 7 Rolls Building, Fetter Lane, London, EC4A 1NL, United Kingdom, where the transfer was approved. Please see Document Post Transfer Legal Notice for more information.
Impact of the Transfer
The Transfer will have no effect on:
- the obligations owed to you;
- the terms and conditions of your cover;
- the amount of your premium;
- the duration of your policy or policies;
- the way your policy is administered; or
- any claim which you may have made or may make under your policy or policies, including the way any claims you have made or may make under your policy or policies are handled.
For transferring clients, your relationship with the personnel with whom you previously dealt in respect of your policy will continue as before.
Important documents
Transfer documents:
- Notice setting out the details of the Court hearing to approve the Transfer
- Scheme document setting out the terms of the Transfer
- Summary of the Transfer and the Independent Expert's Report
- Independent Expert's Report
- Q&A booklet
- Template letter to policyholders in respect of the Transfer
- Template letter to third party claimants in respect of the Transfer
- Template letter to reinsurers in respect of the Transfer
- Supplemental Independent Expert's Report
- Post Transfer Legal Notice
Contact Details
If you want further information about the Transfer then please contact us.
You can:
- Email us at: PartVII@usaa.com
- Call us on: (a) 0800 289 192 (if calling from within the UK or by mobile or DSN); (b) 00 800 531 81110 (if calling from within Europe); or (c) 800 531 8722 (if calling from within the United States), available Monday to Friday 7 a.m. to 1 a.m. (UK time).
- Write to Part VII Enquiries at:
- USAA Limited, 4th Floor, Fitzwilliam House, 10 St Mary Axe, London EC3A 8AE England. Attention: Kirsty-Marie Wilding
- USAA S.A. 1, Avenue du Bois, L-1251, Grand Duchy of Luxembourg