Product Oversight And Governance

Home & Legacy Product Oversight & Governance

Following the announcement in May 2023 of Allianz Holdings plc's intention to close the Home & Legacy business and the subsequent ratification of that decision in June 2023, the Home & Legacy business is now in run-off.

Our products are all 'closed' products. They are no longer marketed or distributed or open for new business or renewal.

Our Product Oversight and Governance Procedures are continuing to operate to ensure we meet legal and FCA regulatory requirements and our ongoing obligations to our existing customers during the run-off period.

The process we operate will ensure that for our existing customers our closed products:

continue to offer fair value
are monitored to ensure outcomes and cover provided are as expected
will have appropriate remedial action taken, if poor value is identified

See our Products Oversight & Governance Overview.

Target market and product value details

Our Target Market and Value Statements explain:

who our closed products are suitable/not suitable for
our products' features and characteristics
the process for ongoing assessment of the products
what distributors should do to ensure our products offer fair value

See our Target Market and Value Statements.

Premium Finance

Our Premium Finance product remains available for existing customers who had chosen to pay their annual premium by this method up until the expiry of their policy, including for any adjustments in the premium following a mid-term policy alteration.

See our Premium Finance Information.

Information we require from brokers/distributors

The information that we have obtained from our brokers/distributors about their fees charged and additional products or services sold (including premium finance) and sales methods will continue to be used by us to assist with our ongoing product value assessments.

Home & Legacy Insurance Services Ltd is a wholly owned subsidiary of Allianz Holdings plc and is registered in England number 3007252. Registered office: 57 Ladymead, Guildford, Surrey GU1 1DB. Home & Legacy Insurance Services Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number is 307523. Please note that telephone calls may be recorded for training and/or monitoring purposes.