The present structure of the RSA Group (the "Group") dates back to 1996, when the Royal Insurance and Sun Alliance groups merged. Both groups had a long history and had already, at the time of the merger in 1996, been involved in a number of earlier mergers and acquisitions. The business which is the subject of the Scheme is made up of direct and reinsurance policies written by sixteen companies which have become part of the Group through a series of mergers taking place over a period of fifty years, and forms part of a portfolio of business known within the Group as the Inwards Reinsurance Book, or Inwards Re.
The purpose of the Scheme is to simplify the administration of the Inwards Reinsurance Book by transferring business written by sixteen Group companies into another Group company, British Engine Insurance Limited.