Changes to our business
Life & Pensions
Changes to our business
We’re proposing to transfer certain policies from Aviva Life & Pensions UK Limited to Friends First Life Assurance Company Designated Activity Company (dac) which is part of the Aviva Group and is incorporated in the Republic of Ireland.
The transfer process for the UK insurance industry is governed by Part VII of the Financial Services and Markets Act 2000. This says that a court must agree to the transfer. If the court in London approves our proposals, the policies will transfer to Friends First Life Assurance Company dac and we expect this to happen on 29 March 2019.
We’ll also rename Friends First Life Assurance Company dac as Aviva Life & Pensions Ireland dac on or about 29 March 2019 and we’ll also change its registered office address to One Park Place, Hatch Street, Dublin 2, Ireland.
Please read all the information we’ve sent you and made available on this website so you understand what we’re doing and what it means for you and your policy.
If, after reading this, you have further questions or believe you’ll be negatively affected by our proposals and want to object, you can contact us or you can call us on 0189 86527 in Ireland or on 01603 606388 in the UK. Calls are charged at standard call rates if calling within Ireland or the UK and at international call rates if calling from elsewhere. Charges may vary depending on your network provider. For our joint protection we may record and/or monitor telephone calls.
We can only answer questions about the proposed transfer on this number. For any other questions about your policy, please call your usual number.
What we're transferring
We’re proposing to transfer the following types of policies:
- all policies issued by Aviva Life & Pensions UK Limited out of its branches in the Republic of Ireland, France and Belgium; and
- certain other policies issued by Aviva Life & Pensions UK Limited which were marketed to policyholders outside the United Kingdom.
The terms of your policy won’t change
If the court approves our proposals, Friends First Life Assurance Company dac (to be renamed Aviva Life & Pensions Ireland dac) will be the provider of your policy from 29 March 2019.
There won’t be any change to the operation of your policy as a result of the transfer.
In particular, the transfer won’t have any effect on:
- the way we invest the funds backing your policy;
- any payments you make or receive under the terms of your policy;
- the way you contact us; or
- the level of service you receive.
The transfer will, however, mean that your policy will not qualify for protection under the Financial Services Compensation Scheme. The way you can complain to the Ombudsman may also change. You can find more information here.
A process designed to help protect your interests
To make sure you’re protected, we must follow a set process before the transfer can happen. This includes:
- giving you (as a policyholder) notice of the transfer;
- making you aware that you can object to the transfer and and make representations at the court;
- a detailed review by an Independent Expert;
- consulting our industry regulators in the UK and Ireland; and
- approval by the court in London.
What’s the timeline for the transfer?
Before the transfer can take effect, the court must approve the proposed transfer. The hearing for the final court approval is expected to be on 13 February 2019 and will be at The Business and Property Court at the Rolls Building, 7 Rolls Buildings, Fetter Lane, London EC4A 1NL. We’ll update this website if the date changes.
If the proposals are approved, we expect the transfer to happen on 29 March 2019.
You have the right to go to the court hearing and give your objection or make representations in person or through a legal representative. You can also make your objection online or send your objection by post. Find out how to object.
We have questions and answers that provide further information. If you have any other questions, you can send us your question or you can call us on 0189 86527 in Ireland or on 01603 606388 in the UK. Lines are open Monday to Friday 09:00 – 17:00. Calls are charged at standard call rates if calling within Ireland or the UK and at international call rates if calling from elsewhere. Charges may vary depending on your network provider. For our joint protection we may record and/or monitor telephone calls. We can only answer questions about the proposed transfer on this number. For any questions about your policy, please call your usual number.