Portfolio Transfers

Insurance Business Portfolio Transfers

See below for important information about AmTrust's insurance business portfolio transfers. 

AmTrust Europe Limited

*UPDATE* New Proposed Transfer Date

The Proposed Transfer is now proposed to take place on 31 July 2020 to allow for more time for AEL, AIU, AmTrust Italy and the Independent Expert to consider the impact of COVID-19 on the Proposed Transfer. The Independent Expert will consider this matter in a supplementary report to be published on this page in due course. As the Proposed Transfer was originally proposed to take place on 1 July 2020, the Scheme Document and the Independent Expert’s report refer to the Proposed Transfer taking place on the 1 July 2020. An updated version of the Scheme Document reflecting the new proposed date of the transfer will be made available to the Court.

In light of current UK government guidelines regarding COVID-19, please note that it is possible that the hearing may take place remotely via a teleconferencing service. It is requested if you intend on attending the hearing (whether in person or via your representative), you inform AEL, AIU or AmTrust Italy in writing (using the contact details set out below) as soon as possible and preferably before 17 July 2020. This will enable AEL, AIU and AmTrust Italy to provide any details necessary to attend the hearing if it is to be held remotely.



The UK ceased to be a member of the European Union (the EU) on 31 January 2020 (Brexit). It is, therefore, necessary for the AmTrust group to restructure its European operations in order to continue to service its European policyholders as a result of Brexit and following the expiry of the transitional period agreed between the UK and the EU (currently expected to end on 31 December 2020).

Accordingly, AmTrust Europe Limited (AEL) is proposing to transfer:
  • its Italian medical malpractice business (which includes any additional forms of coverage under medical malpractice policies) to AmTrust Assicurazioni S.p.A. in Italy (AA); and
  • all other European general insurance and reinsurance business (excluding UK business and Italian medical malpractice business) to AmTrust International Underwriters DAC in Ireland (AIU);
(the ‘Transfer’)

The Transfer will have no effect on the terms and conditions of policyholders’ existing cover. Both AIU and AA will administer the transferring policies in line with the AmTrust Group’s current systems, policies and procedures and therefore in the same manner to the administration currently undertaken by AEL.

The Transfer shall be carried out by means of an insurance business transfer under Part VII of UK Financial Services and Markets Act 2000. The Transfer will require the approval of the High Court of England and Wales (the Court). The legal process is explained further in the documentation listed below.

The proposed Transfer is expected to take effect on 31 July 2020 if approved by the Court.

More information on the proposed Transfer can be found in the following documents:

Letter to Policyholders & Claimants
 
CroatianCzechDanishDutchEnglishFinnishFrenchGermanGreek
ItalianLatvianLithuanianNorwegianPolishPortugueseSlovenianSpanishSwedish

Letter to Med Mal Policyholders & Claimants

Italian

A Question and Answer Booklet
 
CroatianCzechDanishDutchEnglishFinnishFrenchGermanGreek
ItalianLatvianLithuanianNorwegianPolishPortugueseSlovenianSpanishSwedish

A Summary of the Scheme
 
CroatianCzechDanishDutchEnglishFinnishFrenchGermanGreek
ItalianLatvianLithuanianNorwegianPolishPortugueseSlovenianSpanishSwedish

A Summary of the Independent Expert Report
 
CroatianCzechDanishDutchEnglishFinnishFrenchGermanGreek
ItalianLatvianLithuanianNorwegianPolishPortugueseSlovenianSpanishSwedish

Legal Notice
 
CroatianCzechDanishDutchEnglishFinnishFrenchGermanGreek
ItalianLatvianLithuanianNorwegianPolishPortugueseSlovenianSpanishSwedish

The Scheme Document

English

The Independent Expert Report 

English

If you have concerns regarding the Transfer and how it may affect you, you have the right to make a written representation to the Court or be heard at the Court hearing (in person or by legal representation). The Court hearing is scheduled to take place on 24 July 2020 at the High Court of Justice, 7 Rolls Building, Fetter Lane, London, EC4A 1NL, UK.

You may also raise these concerns with us in writing or over the telephone and we will make a record of your concerns and communicate these to the Prudential Regulation Authority, the Financial Conduct Authority, the Independent Expert and the Court. Information on how you can contact us is provided below.

Should you need any further information or if you have any questions or concerns about the proposed Transfer or consider that you may be adversely affected then please contact us as soon as possible and preferably no later than 17 July 2020. You can:

Call us on:
 
  • +353 (0)151 386 07 (9am-5pm Irish time, Monday to Friday);
  • +44 (0)333 234 3454 (9am-5pm UK time, Monday to Friday);
  • +46 (0)1055 172 42 (9am-5pm Swedish time, Monday to Friday);
  • +39 (0)28 343 8150 (3pm-5pm Italian time Tuesday to Thursday & 9am-11am on Friday); or
Write to us at:
 
  • Amtrust International (Portfolio Transfers)
    Exchequer Court
    33 St Mary Axe
    London EC3A 8AA
    UK;
  • Amtrust International (Portfolio Transfers)
    6-8 College Green
    Dublin 2
    Ireland; or
  • Amtrust International (Portfolio Transfers)
    14, Via Clerici
    20121 Milan
    Italy; or

AmTrust International DAC (Medical Malfeasance Transfer)

*UPDATE* New Proposed Transfer Date

The Proposed Transfer is now proposed to take place on 31 July 2020 to allow for more time for AIU, AA and the Independent Actuary to consider the impact of COVID-19 on the Proposed Transfer. The Independent Actuary will consider this matter in a supplementary report to be published on this page in due course. As the Proposed Transfer was originally proposed to take place on 1 July 2020, the Scheme Document (attached below) and the Independent Expert’s report refer to the Proposed Transfer taking place on the 1 July 2020. An updated version of the Scheme Document reflecting the new proposed date of the transfer will be made available to the Court.

In light of current Irish government guidelines regarding COVID-19, please note that it is possible that the hearing may take place remotely via a teleconferencing service. It is requested if you intend on attending the hearing (whether in person or via your representative), you inform AIU or AA in writing (using the contact details set out below) as soon as possible and preferably before 20 July 2020. This will enable AIU and AA to provide any details necessary to attend the hearing if it is to be held remotely



AmTrust International Underwriters DAC (AIUD) is proposing to transfer its Italian medical malfeasance insurance business to AmTrust Assicurazioni S.p.A (AA) (the Proposed Transfer). Both AIUD and AA are part of the AmTrust group (the AmTrust Group).

The Proposed Transfer will have no effect on the terms and conditions of policyholders’ existing cover. AA will administer the transferring policies in line with the AmTrust Group’s current systems, policies and procedures and therefore in the same manner to as the administration currently undertaken by AIUD.

The Proposed Transfer shall be carried out by means of an insurance business transfer under Section 13 of the of the Assurance Companies Act 1909, Section 36 of the Insurance Act 1989 and Regulation 41 of the European Union (Insurance and Reinsurance) Regulations 2015. The Proposed Transfer will require approval from the Irish High Court (the Court). The legal process is explained further in the documentation listed below.

The Proposed Transfer is expected to take effect on 31 July 2020 if approved by the Court.

More information on the Proposed Transfer can be found in the following documents:

Background & Summary
Legal Notice
The Scheme Document
Summary of the Scheme
Independent Expert Report
Summary of the Independent Expert Report
Frequently Asked Question (FAQ) Booklet
 
The summary documents are also available to view in Italian at www.amtrust.it

The Court hearing is scheduled to take place on 27 July 2019 at the High Court, The Four Courts, Inns Quay, Dublin 7. Any person who wishes to be heard on the hearing of the Proposed Transfer should notify AIUD’s solicitors, Matheson Solicitors, 70 Sir John Rogerson's Quay, Dublin 2 quoting reference DM/PR/CP 658088/61 (in writing) no later than 20 July 2020 of their intention to appear in Court and should indicate to the said solicitors whether such person or persons support or oppose the said Proposed Transfer and further should, by said time and date, file in court and furnish to AIUD’s solicitors such evidence by way of affidavit as is proposed to be relied upon at the hearing by such person.

Unless you have questions or concerns you do not need to contact anyone or take any further action. However, if you have any queries about the Proposed Transfer please contact your usual contact at AIUD or email partvii@amtrustgroup.com.
 

AmTrust International Underwriters DAC (Dutch & Belgian Surety Transfer)

 
On 31 March 2020, AmTrust International Underwriters DAC (AIUD) transferred its Dutch and Belgian Surety business to Liberty Mutual Insurance Europe S.E (the Transfer).

The Transfer was carried out by means of an insurance business transfer under Section 13 of the of the Assurance Companies Act 1909, Section 36 of the Insurance Act 1989 and Regulation 41 of the European Union (Insurance and Reinsurance) Regulations 2015. On 25th March 2020, the Transfer was approved by the Irish High Court (the Court). A copy of the Court’s Order is available here.

The Transfer will have no effect on the terms and conditions of policyholders’ existing cover.

From 1 April 2020, any enquires relating to the transferred Dutch and Belgian Surety business should be directed to Liberty Mutual Insurance Europe S.E.

AMT Mortgage Insurance Limited (UK Business)

*UPDATE* On 30 June 2019 AMT Mortgage Insurance Limited successfully transferred all of its UK insurance business to AmTrust Europe Limited. If you have an enquiry about a transferred Mortgage Insurance Policy, please contact us here or speak with your usual contact within AmTrust’s Mortgage & Credit Team.



AMT Mortgage Insurance Limited (AMIL) is proposing to transfer all of its UK insurance business to AmTrust Europe Limited (AEL) (the Transfer). Both AMIL and AEL are part of the AmTrust group (the AmTrust Group), with AMIL being a wholly-owned subsidiary of AEL.

The Transfer will have no effect on the terms and conditions of policyholders’ existing cover. AEL will administer the transferring policies in line with the AmTrust Group’s current systems, policies and procedures and therefore in the same manner to the administration currently undertaken by AMIL.

The Transfer shall be carried out by means of an insurance business transfer under Part VII of UK Financial Services and Markets Act 2000. The Transfer will require the approval from the High Court of England and Wales (the Court). The legal process is explained further in the documentation listed below.

The proposed Transfer is expected to take effect on 30 June 2019 if approved by the Court.

More information on the proposed Transfer can be found in the following documents:

If you have concerns regarding the Transfer and how it may affect you, you have the right to make a written representation to the Court or be heard at the Court hearing (in person or by legal representation). The Court hearing is scheduled to take place on 11 June 2019 at the High Court of Justice, 7 Rolls Building, Fetter Lane, London, EC4A 1NL, UK.

You may also raise these concerns with us in writing or over the telephone and we will make a record of your concerns and communicate these to the Prudential Regulation Authority, the Financial Conduct Authority, the Independent Expert and the Court. Information on how you can contact us is provided below.

Should you need any further information or if you have any questions or concerns about the proposed Transfer or consider that you may be adversely affected then please contact us as soon as possible and preferably no later than 4 June 2019. You can:

  • call our helpline on: +44 (0)20 7280 6440 (available between 9:00am to 5:00pm Monday to Friday);
  • write to AmTrust International (Part VII), Exchequer Court 33 St Mary Axe London EC3A 8AA, Attention: Alice Whelan;
  • or email PartVII@amtrustgroup.com
Pedigree Livestock Insurance Limited

*UPDATE* On 30 June 2019 Pedigree Livestock Insurance Limited successfully transferred all of its insurance business to AmTrust Europe Limited. If you have an enquiry about a transferred Pet Insurance Policy, please contact us here.



Pedigree Livestock Insurance Limited (PLIL) is proposing to transfer all of its insurance business to AmTrust Europe Limited (AEL) (the Transfer). Both PLIL and AEL are part of the AmTrust group (the AmTrust Group).

The Transfer will have no effect on the terms and conditions of policyholders’ existing cover. AEL intends that policyholders within the transferring business will experience no difference in the administration and servicing of their policies and claims.

The Transfer shall be carried out by means of an insurance business transfer under Part VII of UK Financial Services and Markets Act 2000. The Transfer will require the approval from the High Court of England and Wales (the Court). The legal process is explained further in the documentation listed below.

The proposed Transfer is expected to take effect on 30 June 2019 if approved by the Court.

More information on the Transfer can be found in the following documents:

If you have concerns regarding the Transfer and how it may affect you, you have the right to make a written representation to the Court or be heard at the Court hearing (in person or by legal representation). The Court hearing is scheduled to take place on 11 June 2019 at the High Court of Justice, 7 Rolls Building, Fetter Lane, London, EC4A 1NL, UK.

You may also raise these concerns with us in writing or over the telephone and we will make a record of your concerns and communicate these to the Prudential Regulation Authority, the Financial Conduct Authority, the Independent Expert and the Court. Information on how you can contact us is provided below.

Should you need any further information or if you have any questions or concerns about the proposed Transfer or consider that you may be adversely affected then please contact us as soon as possible and preferably no later than 4 June 2019. You can:

  • call our helpline on: +44 (0)20 7280 6440 (available between 9:00am to 5:00pm Monday to Friday;
  • write to AmTrust International (Part VII), Exchequer Court 33 St Mary Axe London EC3A 8AA, Attention: Alice Whelan; or
  • email PartVII@amtrustgroup.com

Time Zones

13

Countries

25

Locations

38

Employees

2300