Section 50 Transfer of Constantia Life Limited (including Goodall and Bourne) policies to Constantia Life and Health Assurance Company Limited
What it is
Insurance policies currently underwritten by Constantia Life Limited (CLL), including the Goodall and Bourne policies, will be transferred to Constantia Life and Health Assurance Company Limited (CLAH) in terms of Section 50 of the Insurance Act 18 of 2017 and upon approval by the Prudential Authority (PA).
What does this mean for your insurance policy?
Once the transfer is complete, Constantia Life and Health Assurance Company Limited (CLAH) shall be responsible for the fulfilment of all the obligations of Constantia Life Limited (CLL), insofar as the said obligations relate to the specific life insurance business applicable under the transfer, and according to the same terms and conditions under which the policies were initially underwritten by Constantia Life Limited.
In other words, the benefits, premiums and other terms and conditions of the policy will remain unchanged.
More information pertaining to the transfer is included in the attached documents:
Transfer Agreement between CLL and CLAH
Application Form for the Transfer of Business
Government Gazette Notification (English version)
Government Gazette Notification (Afrikaans version)
Newspaper Notification (English version)
Newspaper Notification (Afrikaans version)
Policyholder Letter Notification
Policyholder Email Notification
Text Message Notification
CLAH Board Special Resolutions
CLL Board Special Resolutions
Annual Financial Statements for CLL
Annual Financial Statements for CLAH
Frequently Asked Questions (FAQs)