The Law Reports (Chancery Division)
[1995] Ch 122
[CHANCERY DIVISION]
FUJI FINANCE INC. v. AETNA LIFE INSURANCE CO. LTD. AND ANOTHER
[1993 Ch. F. No. 7891]
1994 June 27,
28,
29;
July 7
July 7
Sir Donald Nicholls V.-C.
Insurance
— Life insurance
— Validity
— Same sum payable on death of assured as on surrender of policy
— Whether payable “on the life of any person”
— Whether policy contract of life assurance
— Whether policy void
—
Life Assurance Act 1774 (14 Geo. 3, c. 48), s. 1
Insurance
— Contract
— Illegality
— Statutory prohibition
— Insurance company carrying on business otherwise than in connection with insurance business
— Issue of investment policy
— Whether policy unenforceable
—
Insurance Companies Act 1982 (c. 50), s. 16