Insurance Business Transfer (Part VII) Process

Important Update

We are pleased to announce that on 20 November 2024, the UK High Court has approved the Part VII transfer of the insurance and reinsurance business from FM Insurance Company Limited to FM Insurance Europe S.A. UK Branch. This Scheme will take effect 11:59 pm (CET) on 30 November 2024. The Sanction Order from the UK High Court and further Part VII information can be found below.

Important information regarding the proposed plans to transfer the entirety of the UK general insurance and reinsurance business of FM Insurance Company Limited to FM Insurance Europe S.A. UK Branch (the “Proposed Transfer”) is set out and explained further below.

The Scheme

The Proposed Transfer will be implemented through an insurance business transfer under Part VII of the Financial Services and Markets Act 2000 (the “Scheme”). The High Court will consider the Proposed Transfer, and if thought fit, approve the Proposed Transfer. You can find a copy of the Scheme and under the Court Documents and further Part VII Information below.

The Proposed Transfer will have no impact on the current terms and conditions (except that your policy provider will change to FMIE UK Branch), your rights and obligations under your policies or the way your policies are administered. Any claim you may have against FM Insurance Company Limited will continue against FM Insurance Europe S.A. UK Branch once the Proposed Transfer takes effect.

FM Insurance Company Limited is regulated by the Prudential Regulation Authority ("PRA") and the Financial Conduct Authority ("FCA"). As part of the Part VII process, the PRA and the FCA have been consulted through the design and planning of the transfer proposals. As part of their review process, the PRA and the FCA will provide reports on the proposed transfer to the High Court.

Timing and Sequence of Events