Insurance Companies

Insurance Companies Act 1982 (Section 52 B)

ACE INSURANCE S.A.-N.V. AND

CIGNA EUROPE INSURANCE COMPANY S.A.-N.V.

Transfer of General Business

1.	Notice is hereby given that ACE Insurance S.A.-N.V., an insurance company whose registered office is at Rue Belliard 9-11, Brussels 1040, Belgium (the “Transferor”) applied to the Belgium Office de Contr’le d’Assurances on 25th October 2001 for its approval, pursuant to the law of 9th July 1975, to transfer to Cigna Europe Insurance Company S.A.-N.V., whose registered address is at Avenue de Cortenbergh 52, Brussels 1000, Belgium (the “Transferee”), the Transferor’s rights and obligations under the policies written by the Transferor in the United Kingdom prior to 1st January 2002 in respect of a credit portfolio offered through lenders to borrowers and insures loans, such as mortgages, consumer loans and revolving credit accounts, which the borrower cannot repay due to loss of employment, disability or death. The insurance is also offered through utility or telecommunications companies to insure periodic payments such as monthly utility or telephone bills. The lender acts as sponsor, facilitating notification of borrowers that credit insurance is available and providing the insurer with access to borrowers for the purpose of marketing the insurance and receiving application forms.
2.	Copies of the Statement of Particulars of the proposed transfer are available for inspection at 100 New Bridge Street, London EC4V c/o Ref: MDC/CVS at Baker & McKenzie, Monday to Friday 9.00 am to 5.00 pm, where particulars may be inspected until 30 days after the day of publication of this notice.
3.	Written representations concerning the transfer may be sent to the Financial Services Authority, Authorisation Division, 8NW11M, 25 The North Colonnade, Canary Wharf, London E14 5HS before 60 days following the expiry of the notice referred to in 2 above. The Financial Services Authority will not give its consent to the transfer in Belgium until after considering such representations.

7th October 2002