Soteria Insurance Ltd - Proposal to Transfer its Commercial Insurance Business to DARAG Insurance UK Limited

SOTERIA INSURANCE

Legal Notice           

IN THE HIGH COURT OF JUSTICE CR-2026-003118

BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES COMPANIES COURT (ChD)

IN THE MATTER OF SOTERIA INSURANCE LIMITED

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IN THE MATTER OF DARAG LEGACY UK LTD

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IN THE MATTER OF DARAG INSURANCE UK LIMITED

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IN THE MATTER OF

PART VII OF THE FINANCIAL SERVICES AND MARKETS ACT 2000

Notice is hereby given that on 21 May 2026 an Application was made under section 107 of the

Financial Services and Markets Act 2000 (the Act) in the High Court of Justice, Business and Property Courts of England and Wales, Companies Court (ChD) in London by Soteria Insurance Limited (Soteria) and DARAG Legacy UK Ltd (DLUK) (together the Transferors) and DARAG Insurance UK Limited (the Transferee), for orders:

(1)  under section 111 of the Act sanctioning a scheme (the Scheme) providing for the transfer to the Transferee of:

a.   with respect to Soteria, its rights and liabilities under or by virtue of any policy forming part of (i) its commercial liability business; (ii) its participation in the Electricity Industry Run-Off Services Limited pool; and (iii) certain reinsurance business; and

b.   with respect to DLUK, a legacy, predominantly Africa-based, reinsurance portfolio written and/or assumed by it; and

(2)  making ancillary provisions in connection with the Scheme pursuant to sections 112 of the Act.

Each of Soteria, DLUK and the Transferee are UK-authorised insurers in run-off. Soteria was formerly known as CIS General Insurance Limited and Soteria’s business also includes commercial liability business underwritten by Co-operative Insurance Society Limited. DLUK was formerly known as One Re Ltd. DLUK and the Transferee are in the same corporate group and are subsidiaries of DARAG Deutschland AG.

A copy of the report on the terms of the Scheme prepared in accordance with section 109 of the Act by an independent expert (the IE Report), a statement setting out the terms of the Scheme and a summary of the IE Report may be obtained free of charge by contacting Soteria Insurance Limited, Mclaren House, 100 Kings Road, Brentwood, Essex, CM14 4EA, Ref: Part VII Transfer; email: info@partvii.soteriainsurance.co.uk; telephone 0800 1822 374 or DARAG Legacy UK Ltd, 25 Eastcheap, 4th Floor, London EC3M 1DT, Ref: Part VII Transfer; email: projectlegacy@darag-group. com; telephone 0204 530 9800 or DARAG Insurance UK Limited, 25 Eastcheap, 4th Floor, London EC3M 1DT, Ref: UK Part VII Transfer; email: projectlegacy@darag-group.com; telephone 0204 530 9800. These documents and other related documents, including sample copies of the communications to policyholders, are also available at https://www.soteriainsurance.co.uk/part-vii-transfer. These websites will be updated for any key changes to the proposed transfer.

Any questions or concerns relating to, or further information regarding, the proposed transfer should be referred to the above addresses. Objections to the proposed transfer may also be raised with the Court as set out below.

If you are in any doubt as to whether your insurance policy is included in the proposed transfer please contact the parties at the contact details set out above.

The Application is due to be heard at the High Court of Justice of England and Wales, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL, United Kingdom on 17 September 2026. Any person who thinks that he or she would be adversely affected by the Scheme, or objects to the Scheme, may attend the hearing and express their views, either in person or by a representative. It is requested that anyone intending to do so informs the Transferors and/or the Transferee (using the contact details set out above) as soon as possible and preferably before 10 September 2026 to set out the nature of their objection. This will enable the Transferors and the Transferee to provide notification of any changes to the hearing and, where possible, to address any concerns raised in advance of the hearing. Any person who objects to, or considers they may be adversely affected by, the Scheme but does not intend to attend the hearing may make representations about the Scheme by giving written notice of such representations, in each case as soon as possible and preferably before 10 September 2026 to: Norton Rose Fulbright LLP 3 More London Riverside, London, SE1 2AQ Ref: 1001330697

The Transferors and the Transferee will inform the UK’s Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) of any objections raised in advance of the hearing, regardless of whether the person making the objection intends to attend the hearing. The PRA and the FCA will each prepare reports on the Scheme for the Court.

If the Scheme is sanctioned by the Court, it will result in the transfer of all the rights, claims and liabilities of the Transferors within the scope of the Scheme to the Transferee, notwithstanding that a person would otherwise be entitled to terminate, modify, acquire or claim an interest or right or to treat an interest or right as terminated or modified as a result of the transfer of business effected by the Scheme. Any such right will only be enforceable to the extent the order of the Court makes provision to that effect. Subject to the sanction of the Court, the Scheme is currently anticipated to be effective at 23:59 GMT on 30 September 2026.

Norton Rose Fulbright LLP, 3 More London Riverside, London, SE1 2AQ, United Kingdom Solicitors acting for Soteria Insurance Limited Ref: 1001330697

Tel: +44 207 283 6000