Part VII Transfer

Fidelis has established a regulated (re)insurer in Ireland, Fidelis Insurance Ireland DAC “FIID” (previously known as Fidelis Risk Ireland DAC) to take advantage of opportunities in the EEA and to mitigate the ongoing risk of a hard Brexit.

As part of this process, Fidelis Underwriting Limited, our UK underwriting entity, transferred certain non-UK EEA insurance policies to FIID on 29 March 2019. This transfer was undertaken through a legal process known as a Part VII Transfer (the “Transfer”). The Transfer was subject to various court and regulatory approvals and if your policy was affected, we would have written to you directly.

The Transfer process included:

  • Reports by our Court appointed independent expert actuary on the details of the Transfer;
  • Writing to affected policyholders, brokers and other relevant intermediaries with details of the Transfer and how they were to be affected;
  • A final High Court hearing to sanction the Transfer, which took place on 27 March 2019 at which the Transfer was approved (as set out in the item 4 “Updated Insurance Transfer Scheme”).
To the right you will find links to a number of documents which provide further information on the Transfer.

This webpage will be updated following any material changes to the Transfer and therefore you may wish to check this webpage for updates. The documents and information included in this webpage will remain available for at least 3 months from the date of the Transfer (i.e. until at least 27 June 2019). If you have any questions, or believe you may be affected by the Transfer, please contact us via the following email PTVII-Transfer@fidelisinsurance.com or please call one of the toll free numbers found via the link to the right.

 

 
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