In February 2017, we announced that Reliance Mutual had entered into an agreement to sell all of its insurance business to LCCG. Since then, we have been making arrangements for the legal transfer of our business to LCCG according to the process set out in the Financial Services and Markets Act 2000. You can find out more about the legal transfer process by clicking here.
In accordance with the legal notice issued to members of the Society, a General Meeting of members of the Society was held at 10.30am on 14 December 2017 at The Amba Charing Cross Hotel, Strand, London to consider and vote on two resolutions with regard to the proposal that the whole of the Society's business be transferred to LCCG New LifeCo Limited and to adopt a new set of Articles of Association of the Society.
At the General Meeting, members voted in favour of the two resolutions by the required majorities.
This means that the transfer will proceed to the High Court for approval.
Please note that the hearing at the High Court has been changed from 6 March 2018 to 15 March 2018. It is possible the hearing date may change again and if so, details of the new date will be provided on this website.
The minutes of the General Meeting can be viewed by clicking here.
Details of the voting are provided below and further information regarding the transfer can be found by clicking here.
22 voting members attended the General Meeting and nearly 10,000 members took part in a proxy vote. Votes cast this way carried the same weight as those cast by members who attended the meeting, enabling members who were unable to attend the General Meeting to be involved in deciding the future of the Society.
The two resolutions proposed were passed by members in attendance at the meeting, and by members who cast proxy votes by post or online.
Please note that a vote withheld is not a vote and is not counted in the calculation of the proportion of the votes for and against the resolutions.
The voting results are as follows:
The Reliance Mutual Group includes:Reliance Mutual Insurance Society Limited - Registered No. 491580, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority; Reliance Unit Managers Limited - Registered No. 724451, authorised and regulated by the Financial Conduct Authority and Reliance Administration Services Limited - Registered No. 3710407, authorised and regulated by the Financial Conduct Authority. All are registered in England at Reliance House, 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG.