07 Nov 2016

Transfer of Groupama's general insurance business in Singapore to Reardon Pte. Limited

Partners Simon Goh and Wang Ying Shuang and Senior Associate Benjamin Teo acted for Groupama S.A. Singapore Branch in Singapore (“Groupama”) in the sale and transfer of the run-off general insurance business carried on by Groupama to Reardon Pte. Limited, an insurance company dedicated to managing the run-off of non-life insurance and reinsurance business. The transfer was made under section 49FB of the Insurance Act (Cap. 142) and required the approval of both the Monetary Authority of Singapore and the confirmation of the Singapore High Court.