Creditors of the Scheme of Arrangements will be aware that the report and accounts for the period ending 30 June 2020 were recently published.
Publication is later than normal but thankfully the accounts paint a relatively positive picture regarding a solvent run off.
Creditors are currently responsible for the first 25% of future claims payments. Based on current claims projections there does not appear to be a significant risk of an additional levy being imposed however, new and evolving risks are always a threat.
If you have an interest in the MMI position please take time to read the helpful summary of the reports and accounts issued by the Gallagher Public Sector Actuary James Keogh by downloading the report.
If you would like a better understanding of your future liabilities under the scheme please contact us to discuss.