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Great Lakes Australia

Scheme to transfer the insurance business of Calliden Insurance Limited to Great Lakes Australia

Calliden Insurance Limited (CIL) intends to transfer its general insurance business to a related company, the Australian branch of Great Lakes Insurance SE, which trades as Great Lakes Australia (GLA). CIL and GLA are part of the Munich Re group of companies.

This proposed transfer requires the approval of a scheme by the Australian Prudential Regulation Authority and the Federal Court of Australia.

If you are a policyholder, a potential beneficiary or have a current claim under a policy issued by CIL that is affected by the proposed transfer then you are not required to take any action before the proposed transfer, or afterwards if the transfer is ultimately approved by the Federal Court of Australia.  However, it is recommended that these persons review the information about the proposed transfer that is contained in the following documents, that can be accessed by clicking on the links, to understand how it will affect their rights and obligations under the policies to be transferred from CIL to GLA:

  1. Notice of Intention (PDF, 25 KB)
  2. Scheme Summary (PDF, 43 KB)
  3. Scheme (PDF, 37 KB)
  4. Actuarial report (PDF, 194 KB)


If you would like to contact us about the proposed transfer then you may do so:

By email at TransferCIL@munichre.com

By post at: Great Lakes Australia, PO Box H35, Australia Square, New South Wales 1215.

By telephoning Annalise Meurant, Corporate Counsel & Assistant Company Secretary, Munich Re Australia on: + 61(2) 9272 2054

Update on Scheme Federal Court Hearing

The date of Great Lakes Australia's application to the Federal Court of Australia in Sydney for the scheme to be confirmed has been changed, and will take place on Thursday, 23 March 2017 at 2.15 p.m.

Redomiciliation to Germany and change of name

Effective 30 December 2016, Great Lakes Reinsurance (UK) SE has transferred its registered office from the United Kingdom and become a limited liability company incorporated in Germany.  Its name has changed to Great Lakes Insurance SE.


The contact details and the trading name of its Australian branch (GLA) have not changed.

Great Lakes Insurance SE

Great Lakes Insurance SE ("GLISE") is a German insurance company based in Munich and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht, the Federal Financial Supervisory Authority of Germany.


For more information, please visit the Great Lakes Insurance SE website:

http://www.munichre.com/en/reinsurance/contact/worldwide/europe/united-kingdom/great-lakes-uk/about-us/index.html

Great Lakes Australia

Great Lakes Australia (GLA) is the Australian branch of Great Lakes Insurance SE (Great Lakes).

GLA is licensed by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL No. 318603).

GLA is authorised by the Australian Prudential Regulation Authority (APRA) to operate as a general insurer in Australia.

GLISE  – our relationship with Munich Re

GLISE is a wholly owned subsidiary of Münchener Rückversicherungs-Gesellschaft AG (Munich Re).

GLISE shares the excellent financial strength ratings of Munich Re. In addition, GLA has access to the experience and expertise of Munich Re (Group) to facilitate the research and development of niche programmes for our clients.

History

GLISE was originally formed in Canada in 1951. Munich Re acquired the Toronto based company in 1975 and established GLISE in the UK in 1987 with the aim to access and better service the London market. Great Lakes Insurance SE trading as Great Lakes Australia was registered as a foreign company (ARBN 127 740 532) in Australia on 31 October 2007.


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.