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Portfolio transfer from “certain members, former members and estates of former members of Lloyd’s, represented by the Society of Lloyd’s” (“Society of Lloyd’s”) to Lloyd’s Insurance Company S.A.

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The Society of Lloyd’s with its registered office at One Lime Street, London EC3M 7HA, United Kingdom, intends to transfer parts of its non-life insurance portfolio to Lloyd’s Insurance Company S.A. with its registered office at Place du Champ de Mars 5, 14th floor, 1050 Brussels, Belgium.

The Austrian branch establishment, the Association of underwriters known as Lloyd’s, Zweigniederlassung Österreich with its registered office at Schubertring 6, 1010 Vienna is also affected.

According to information received from the British supervisory authority, policies held by policyholders in Austria are also affected.

A termination right exists for insurance policy holders pursuant to Article 31 para. 2 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016).

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Regulator Information

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

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This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

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