Golden Arches Insurance DAC (GAIDAC) is a subsidiary of McDonald’s Corporation, the ultimate parent company in the McDonald’s group of companies (the McDonald’s Group) with an insurance coverage programme for the subsidiaries, affiliates and franchisees of the McDonald’s Group. GAIDAC is currently undertaking a process to move all of its insurance liabilities to Zurich. The vast majority of GAIDAC’s insurance liabilities will move under an Irish High Court-sanctioned process known as a portfolio transfer, in consultation with the Irish regulator, the Central Bank of Ireland. The remaining liabilities will be novated to Zurich, contractually. Further details are set out in the documentation linked below and an independent actuary has also commented on the proposals. As part of the portfolio transfer process, certain key documentation will be displayed at the registered offices of GAIDAC and the transferee, Zürich Versicherungs-Aktiengesellschaft. As an additional step, to ensure maximum accessibility for policyholder and shareholders, the documentation to be displayed at the registered offices is also available by accessing the links below:
 


The date on which the Irish High Court will hear the proposals is scheduled for 16 October 2024 and material updates will be posted on this webpage. For example, if the anticipated timing of the hearing date changes for some reason.