Zurich, Scottish Widows Get Court OK For Pensions Transfer

Law360, London (June 12, 2019, 9:20 PM BST) -- A unit of Zurich Insurance Group won court approval on Wednesday for its impending transfer of more than 287,000 workplace pension policies worth more than £18 billion ($23.1 billion) to its rival Scottish Widows, after a London judge found no issue with the migration plans.

Judge Geoffrey Vos sanctioned the transfer, which is due to take effect July 1, after concluding that it will not have an adverse effect on existing policyholders, who have all been adequately informed of the plans and raised no objections that would merit a refusal of the scheme.

Zurich Assurance Ltd. announced in October 2017 that...

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