Dan Schwarzmann and Nigel Rackham are the appointed Scheme Administrators of OIC Run-Off Limited (formerly named Ralli Brothers Insurance Company Limited and The Orion Insurance Company plc) and The London and Overseas Insurance Company Limited (formerly named Hull Underwriters’ Association Limited and The London and Overseas Insurance Company plc) (together "the Companies").
This website is for Scheme Creditors to notify them of important matters.
We are pleased to inform you that the Court sanctioned the Final Scheme at the 23 May 2025 sanction hearing. The Court’s Orders were delivered to the Registrar of Companies on 29 May 2025, following which the Final Scheme became effective.
The Final Scheme Bar Date is 31 December 2035, which is the final date by which claims must be submitted in accordance with the terms of the Final Scheme. Please ensure that you take any necessary action before the Final Scheme Bar Date.
Full details of the Final Scheme, including the Scheme terms and the Explanatory Statement can be found in the ‘Scheme Documents’ section of this website.
Should you have any queries relating to the Final Scheme, please contact the run-off manager by email on [email protected] or post at OIC Run-Off Ltd, Hampden Plc, 40 Gracechurch Street, London EC3V 0BT, United Kingdom. You may also contact the Scheme Administrators by email on [email protected] or by post at c/o PricewaterhouseCoopers LLP, 7 More London Riverside, London SE1 2RT, United Kingdom.
We are pleased to inform you that the Final Scheme Meetings of the Companies were convened in accordance with the notice shared on 17th December 2024.
The Meetings were held at 3.02 pm on 24 April 2025, virtually via Microsoft Teams. A total of 12 votes were cast in favour of the Final Scheme, by proxy and in person. No votes were cast against the resolution. The Final Scheme was therefore approved by 100% of the Final Scheme Creditors present and voting by number and value.
Please note that the Sanction Hearing, originally listed for 30 April 2025, has been postponed to 23 May.
If you wish to appear at the Sanction Hearing, please contact Hogan Lovells, solicitors for the Scheme Administrators, by email at [email protected] by 19 May.
Following the Court hearing on 16 December 2024 regarding the Final Scheme that OIC and L&O is proposing, a notice of the meeting of the Companies’ Final Scheme creditors (the “Notice”) has been issued. This Notice can be found in the ‘Scheme Documents’ section of this website and contains important information about the date and time of the Final Scheme meeting and explains how Eligible Final Scheme Creditors can vote on the Final Scheme.
The Final Scheme affects any Qualifying ILU Policyholder that opted out of the Amending Scheme or any person to whom they have assigned their claims (the “Eligible Final Scheme Creditors”).
Copies of the proposed Final Scheme, the Explanatory Statement and the voting and proxy forms for use at the Final Scheme Meeting can also be found in the ‘Scheme Documents’ section of this website.
We refer to the Practice Statement Letter issued to Opt Out Qualifying ILU Policyholders on 28 May 2024 (“28 May PSL”) in relation to the proposed “Final Scheme”.
On 11 July 2024, the Companies provided an update to prospective Final Scheme Creditors, notifying them that the proposed Final Scheme Convening Hearing had been postponed and that a relisted hearing date would be notified in due course. The original date for the Final Scheme Convening Hearing was postponed to allow for terms to be agreed in relation to the early final dividend offer (which was previously disclosed in the 28 May PSL). Those matters have now been resolved such that the Companies can proceed with the Final Scheme Convening Hearing.
We can now confirm that the Convening Hearing has been relisted for 16 December 2024, at which hearing the Companies will seek orders for directions to convene the Final Scheme Meetings.
Further details of the Convening Hearing and a copy of the 28 May PSL can be found in the ‘Scheme Documents’ section of this website.
DY SchwarzmannDan Schwarzmann and Nigel Rackham were appointed Joint Scheme Administrators of OIC Run-Off Limited and The London and Overseas Insurance Company Limited to manage their affairs, business and property as agents without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Scheme Administrators.
Personal data will be kept secure and processed only for matters relating to the scheme of arrangement.
Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Scheme Administrators.
We refer to the Practice Statement Letter issued to Opt Out Qualifying ILU Policyholders on 28 May 2024 in relation to the proposed “Final Scheme”
Please note that the date originally set for the proposed Final Scheme Convening Hearing has been vacated, and the Convening Hearing will no longer be held on 11 July 2024. The Companies intend to relist the Convening Hearing at a future date and will provide Scheme Creditors with notice of any such relisted hearing date, along with a short supplemental practice statement letter, in due course.
In the interim, Opt Out Qualifying ILU Policyholders do not need to take any separate action, and can continue to present their claims to the Companies in the ordinary course.
DY SchwarzmannDan Schwarzmann and Nigel Rackham were appointed Joint Scheme Administrators of OIC Run-Off Limited and The London and Overseas Insurance Company Limited to manage their affairs, business and property as agents without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Scheme Administrators.
Personal data will be kept secure and processed only for matters relating to the scheme of arrangement.
Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Scheme Administrators.
We are pleased to confirm that the Companies, acting by their Scheme Administrators, have today issued a Practice Statement Letter in respect of a scheme of arrangement under Part 26 of the Companies Act 2006 (the “Final Scheme”). This Final Scheme seeks to amend the terms of the existing scheme of arrangement in relation to Opt Out Qualifying ILU Policyholders only.
A copy of the Practice Statement Letter can be found in the Scheme Documents section of this website.
The Final Scheme is an important first step in the Scheme Administrators’ plans to accelerate a final distribution for general Scheme Creditors.
The Final Scheme Convening Hearing is scheduled to be held on 11 July 2024. A further update to all Scheme Creditors will be provided immediately afterwards.
DY SchwarzmannDan Schwarzmann and Nigel Rackham were appointed Joint Scheme Administrators of OIC Run-Off Limited and The London and Overseas Insurance Company Limited to manage their affairs, business and property as agents without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Scheme Administrators.
Personal data will be kept secure and processed only for matters relating to the scheme of arrangement.
Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Scheme Administrators.
Should creditors have any questions with regard to the Final Scheme please contact [email protected] and the Amending Scheme please contact the Run-off Company, Hampden PLC, either by email at [email protected] or by telephone on +44 (0) 207 863 6560.
Each creditor of the Companies should not construe the contents of this website as legal, tax, financial or other professional advice. Each creditor should consult its own professional advisers as to the legal, tax, financial or other matters relevant to the action he should take in connection with the Amending Scheme or Final Scheme.