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Portfolio Transfer from The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited to UK P&I Club NV

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The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited with its registered office at 90 Fenchurch Street, London, EC3M 4ST, United Kingdom has transferred parts of its non-life insurance portfolio to UK P&I Club NV with its registered office at Wilhelminakade 953, 3072 AP Rotterdam, The Netherlands. The portfolio transfer became effective on 31.12.2020.

According to information received from the British supervisory authority, this also includes policies held by policyholders or insured persons in Austria.

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

This news item was originally published by the Financial Market Authority (FMA AT). For more information, please see the Source Link.

Regulator Information

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

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