NOTICE OF APPLICATION FOR SANCTION OF TRANSFER OF LONG TERM BUSINESS - BLUE CROSS (ASIA-PACIFIC) INS

NOTICE IS HEREBY GIVEN that, pursuant to sections 24 and 25 of the Insurance Ordinance (Cap. 41) (the “Ordinance”), an application by way of petition has been  made by BLUE CROSS (ASIA-PACIFIC) INSURANCE LIMITED (“Blue Cross”), a company incorporated in Hong Kong, and  AIA EVEREST LIFE COMPANY LIMITED (“AIA Everest”), a company incorporated in Hong Kong, to the Court of First Instance of Hong Kong on the 18th day of July 2022 to sanction, and to obtain an order making ancillary provisions for implementing, a proposed scheme of transfer of the long term business (as defined in section 2(1) of the Ordinance) carried on by Blue Cross in or from Hong Kong to AIA Everest (the “Scheme”).


Subject to the sanctioning of the Scheme by the Court of First Instance of Hong Kong, it is proposed that the Scheme shall be effective  at 00:01 a.m. hours (Hong Kong time) on  1 November 2022, or such other date as Blue Cross and AIA Everest may decide, which date shall be within 90 days after the date on which the order of the Court of First Instance of Hong Kong sanctioning the Scheme is granted.


Copies of the petition (in English only, having annexed thereto a copy of the Scheme, in both English and Chinese) and a report on the terms of the Scheme by an independent actuary (in both English and Chinese, the “Independent Actuary’s Report”) (as required by section 24(2) of the Ordinance) have been posted on the date of this notice, and copies of a supplementary report by the independent actuary (in both English and Chinese) (the “Supplementary Report”) and the statutory statements (in both English and Chinese) setting out a summary of the terms of the Scheme and containing a summary of the Independent Actuary’s Report (as required by section 24(3) of the Ordinance) will be posted on or around 23 August 2022, on the website of AIA Everest at www.aia.com.hk/en/help-and-support/individuals/aia-everest.html and the website of Blue Cross at www.bluecross.com.hk/en/important-notices/bclife-portfolio-transfer and are also available for inspection at the office of Blue Cross at 29th Floor, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong and the office of AIA Everest at 12th Floor,  AIA Financial Centre, 712 Prince Edward Road East, Kowloon, Hong Kong between 9 a.m. to  5:30 p.m. (Hong Kong time) on normal business days (Monday to Friday (except public holidays)) from the date of posting until  12 September 2022. Copies of the petition (in English only, having annexed thereto a copy of the Scheme in both English and Chinese), the Independent Actuary’s Report (in both English and Chinese) and the Supplementary Report (in both English and Chinese), can also be obtained free of charge by writing to Blue Cross or  AIA Everest at their respective addresses below at any time before the order sanctioning the Scheme is made by the Court of First Instance of Hong Kong.


The petition is directed to be heard in the Court of First Instance of Hong Kong at the High Court Building, 38 Queensway, Admiralty, Hong Kong at 2:30 p.m. on 19 September 2022 and any person, including any employee of Blue Cross or AIA Everest, who alleges that he or she would be adversely affected by the carrying out of the Scheme may appear at the time of the substantive hearing of the petition in person or by representation, and  
    (i) any such person who intends so to appear is requested to give preferably not less than three calendar days’ prior notice in writing of such intention and the reasons therefor, to Blue Cross or AIA Everest at their respective addresses below and quoting the reference “Blue Cross Long Term Insurance Transfer”;
    (ii) any such person who intends to object to the Scheme but does not wish to appear at the substantive hearing of the petition in person or by representation is requested to give preferably not less than three calendar days’ prior written notice of such intention, and the reasons therefor, to Blue Cross or AIA Everest at their respective addresses below and quoting the reference “Blue Cross Long Term Insurance Transfer”; and
    (iii) any such person who has any questions  on the Scheme may contact Blue Cross at  (852) 3608-2988 or AIA Everest at (852) 2232-8968, or write to Blue Cross or AIA Everest at their respective addresses below, quoting the same reference, or may alternatively email his or her question to Blue Cross at: [email protected] or AIA Everest at: [email protected]
    

Dated 19 August 2022.


BLUE CROSS (ASIA-PACIFIC)  INSURANCE LIMITED
29th Floor, BEA Tower, Millennium City 5,  418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong


AIA EVEREST LIFE COMPANY LIMITED
12th Floor, AIA Tower, 183 Electric Road, North Point, Hong Kong