King & Wood Mallesons supported The Hospitals Contribution Fund of Australia Limited (HCF) on its announced merger with Railway & Transport Health Fund Limited (rt Health).
The proposed merger remains subject to certain conditions – including Australian Prudential Regulation Authority approval. If approved, it will be amongst the first of its kind between not-for-profit mutual private health insurers under the Private Health Insurance (Prudential Supervision) Act 2015 (Cth) (PHIPS Act).
The merger will principally involve rt Health’s policyholders being transferred to the fund conducted by HCF pursuant to, amongst other arrangements, the statutory transfer process in the PHIPS Act and is expected to yield several opportunities and benefits for the members of each fund, including more competitive pricing and greater clinical coverage.
HCF is Australia’s largest not-for-profit health fund.
rt Health is a mutual not-for-profit health fund.
The core KWM team was led by Rhys Casey (Partner, Picture), supported by Mitch Fairbairn (Senior Associate) and Caroline Paskevich (Solicitor).
Law Firms: King & Wood Mallesons;
Clients: HCF Insurance;