In July, OIC Run-Off (formerly Orion Insurance Company Limited) and London & Overseas Insurance Company Limited (collectively, “Orion”), made “Early Final Dividend Offers” to scheme creditors with agreed claims. Orion has previously paid 76% on such claims, and the proposed final dividend of 4% would bring the total dividend to 80%.

The offer is considered early because Orion does not anticipate terminating the existing scheme until 2038, at which point it will consider paying a final dividend with any assets remaining. Scheme administrators currently estimate a maximum final dividend of 5.74% to be paid around 2038 but there exists the possibility that, after another 13 years, Orion may have insufficient assets to make any such distribution. Scheme administrators believe that accelerating final payouts now will aid with winding up the estate faster and more efficiently.

To accept the offer, creditors must access the Early Final Dividend Portal, create an account, review the offer, and sign the agreement by November 14, 2025. Creditors who sign by September 30 should expect payment of the final dividend by yearend 2025. Those who do not act will still be entitled to a dividend in 2038, should one be distributed.

For more information, please see Orion’s website. Please reach out to Nicholas Sochurek with any questions.