Aggregated News From Investment Management Regulators

Planned Portfolio Transfer from Zurich Insurance plc (‘ZIP’) to DARAG Deutsche Versicherungs- und Rückversicherungs AG (DARAG)

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Zurich Insurance plc (ZIP) with its registered office at Zurich House, Ballsbridge Park, Dublin, Ireland, is planning to transfer part of its non-life insurance portfolio to DARAG Deutsche Versicherungs- und Rückversicherungs AG (DARAG) with its registered office at Hermannstraße 15, 20095 Hamburg, Germany.

According to information received from the Irish supervisory authority, this may potentially include policies held by policyholders or insured persons in Austria. Policyholders are reminded about the existence of a general termination right for insurance contracts pursuant to Article 31 para. 2 of the 2016 Insurance Supervision Act (VAG 2016; Versicherungsaufsichtsgesetz 2016).

Regulator Information

Regulator Name: Financial Market Authority
Abbreviation: FMA
Jurisdiction: Austria

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