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