Disposal of life business

01 December 2010

ECCLESIASTICAL INSURANCE OFFICE PLC'S SUBSIDIARY COMPLETES LIFE BUSINESS TRANSFER TO ENGAGE MUTUAL

Specialist insurer Ecclesiastical Insurance Office plc's subsidiary, Ecclesiastical Life Limited, has completed the transfer of its With Profit and most of its Non Profit Life funds to Homeowners Friendly Society Limited (trading as Engage Mutual Assurance). The transfer was approved by the High Court on 26th November 2010 and took effect yesterday, 30th November 2010 at 11:59pm. Engage Mutual Assurance has acquired Ecclesiastical Life Limited's protection, endowments, with profits bonds, pensions and annuity business. Ecclesiastical Life Limited retains its funeral plan related life business.

The transfer is a result of an extensive strategic project to review Ecclesiastical's existing life business carried out in early 2009. This resulted in a decision by Ecclesiastical to transfer most of its life business to Engage Mutual Assurance. Engage Mutual Assurance has been carefully selected out of a group of potential buyers due to a similar customer service approach and company vision and mission.

Existing staff from Ecclesiastical Life Limited customer services team will move to Engage Mutual Assurance from 1st December 2010. The team will continue to be based in Gloucester.

Media enquiries

Katri Link, Press Officer, Ecclesiastical Insurance Office plc

Tel: 01452 873162

Email: katri.link@ecclesiastical.com

Visit www.ecclesiastical.com 

Beaufort House, Brunswick Road, Gloucester, GL1 1JZ.

Adrian Beeby, Ellipsis Communication

Mobile: 07879 403564

Tel: 01249 758192

Email: adrian.beeby@ellipsisonline.com

About Ecclesiastical

Ecclesiastical is a specialist insurer of charities, the education, care and faith sectors, heritage buildings and fine art.

Founded in 1887 to provide insurance for the Anglican Church, we now offer a wide range of commercial insurances, as well as home, travel and wedding insurance, selling through brokers and direct.

Ecclesiastical also offers a range of ethically screened investment funds and has a team of Independent Financial Advisers.