Notice of Intention to apply to the Federal Court of Australia for Confirmation of Schemes for the Transfer of parts of the Inwards Reinsurance Businesses of IAG Re Australia Limited, CGU Insurance Limited and CGU-VACC Insurance Limited to Gordian RunOff Limited

Notice of intention to apply to the Federal Court for the approval of schemes under Division 3A of the Insurance Act 1973

TAKE NOTICE that Gordian RunOff Limited ABN 11 052 179 647 (Gordian) proposes to make an application to the Federal Court of Australia (Court) seeking confirmation of three schemes under Division 3A of Part III of the Insurance Act 1973 (Cth).  Under the schemes, certain parts of the inwards reinsurance businesses of IAG Re Australia Limited ABN 96 001 948 278 (IAG Re), CGU Insurance Limited ABN 27 004 478 371 (CGU) and CGU-VACC Insurance Limited ABN 73 004 167 953 (CGU-VACC) will be transferred to Gordian.

Persons who are reinsured under inwards reinsurance or inwards retrocession contracts covered by the schemes (affected policyholders) may attend the Court hearing and request to be heard by the Court on the application for confirmation of the schemes.

The date fixed for the hearing of the application is 2 December 2013 at 10:15am AEST or such later date as the Court appoints.  The hearing will be held at the New South Wales Registry of the Federal Court of Australia which is located at the Law Courts Building, Queens Square, Sydney NSW 2000.  If you wish to attend the hearing or if you wish to object to the terms of the schemes, you might wish to contact Mr Mark Kimberley of HWL Ebsworth Lawyers on (02) 9334 8793.

A policyholder affected by any one or all of the schemes may inspect a copy of the relevant scheme(s) and associated documentation between 31 October 2013 and 21 November 2013 (inclusive), between 9:00am and 5:00pm local time Monday to Friday (other than public holidays) at the following addresses in Australia:

A policyholder affected by any one or all of the schemes may also inspect a copy of the relevant scheme(s) and associated documentation between 31 October 2013 and 21 November 2013 (inclusive), between 9:00am and 5:00pm local time Monday to Friday (other than public holidays) at the following address in London, England:

Enstar Group Limited
America Square
6th Floor, 2 America Square
London EC3N 2LU

Copies of the schemes and associated documentation will also be available on Gordian's website: www.enstardivision3a.com.au/iag.

A policyholder affected by any one or all of the schemes may also obtain a copy of the relevant scheme(s) free of charge from Gordian by calling Vu Pham on (02) 8062 4237 (between 9:00am AEST and 5:00pm AEST Monday to Friday, other than public holidays).

Information about each scheme can be obtained from Gordian by calling Vu Pham on (02) 8062 4237 (between 9:00am AEST and 5:00pm AEST Monday to Friday, other than public holidays).

We recommend that policyholders obtain and review the schemes and associated documents, which contain a discussion of the impact of the schemes on policyholders.

Dated: [11] October 2013