Important Save & Prosper Announcement, 15th December 2011
In December 2010, Chesnara plc (‘Chesnara’) announced that it had completed the acquisition of Save & Prosper Insurance and Save & Prosper Pensions (Save & Prosper) from JPMorgan Asset Management. Chesnara is a UK listed holding company whose strategy is to purchase and manage life assurance assets.
In September 2011, Chesnara announced that it was proposing to merge the Save & Prosper business with the business of its existing UK life assurance company, Countrywide Assured plc, by a process known as an “Insurance Business Transfer Scheme” to be carried out under Part VII of the Financial Services and Markets Act 2000.
We are now pleased to confirm that this Scheme has been approved by the High Court of Justice, and will become effective on 31st December 2011.
During September and October, we sent out a letter to all policyholders of Save & Prosper with full details of this planned merger in a “Policyholder Circular” document. More details of this announcement, including links to the “Policyholder Circular” and other associated documents, can be found on the Chesnara website.
If you have any questions about this announcement, or if you have any other queries, please call us on our usual Customer Services number, 0845 3000 144. Our telephone lines are open between 9am and 5.30pm, Monday to Friday, and are recorded to ensure compliance with our legal and regulatory obligations and internal policies.
Alternatively, you can write to us at our usual address, which is as below
Save & Prosper Life and Pensions
PO Box 499
Welwyn Garden City
AL7 9HD
Listed below are the funds available to customers of Save & Prosper Pensions and Save & Prosper Insurance. Both Companies ceased issuing new policies in 1998, and these funds are now only available to you if you already have an existing policy with us. However, if you are already a Save & Prosper policyholder, you may be able to switch your existing investment between the funds shown here, including the J.P. Morgan Asset Management funds listed further down, depending on the Terms and Conditions of your policy.