East West Insurance Company Limited – In Administration
On 12 October 2020 Richard Barker and Simon Edel of EY were appointed as Joint Administrators of East West Insurance Company Limited (the “Company” or “EWIC”). The appointment was made by the High Court following an application under the provisions of paragraph 12(1) (b) of Schedule B1 to the Insolvency Act 1986.
Policyholders and claimants
All policyholders and claimants will be sent a written notification from the Administrators in due course.
In the meantime, for further information please refer to the Frequently Asked Questions (“FAQs”) provided here: FAQ or from the EY website: www.ey.com/en_uk/eastwestinsurance
The Financial Services Compensation Scheme (“FSCS”)
The FSCS protects UK policyholders, generally individuals or small businesses, who are eligible to claim under the Policyholder Protection Rules. Based on the Administrators’ current understanding of the Company’s policyholders, it is expected that a significant number will meet the FSCS’ eligibility rules.
Further to an amendment to the Policyholder Protection Rules on 8 October 2020, building guarantee policyholders protected by the FSCS scheme will receive compensation at 100% of EWIC’s liability for claims.
Further details can be found on the FSCS website at www.fscs.org.uk/what-we-cover/insurance/
Richard Barker and Simon Edel are licensed in the United Kingdom to act as Insolvency Practitioners by The Insolvency Practitioners Association.
The affairs, business and property of the Company are being managed by the Joint Administrators, Richard Barker and Simon Edel, who act as agents of the Company only and without personal liability.
The Joint Administrators may act as data controllers of personal data as defined by the General Data Protection Regulation 2016/679, depending upon the specific processing activities undertaken. Ernst & Young LLP and/or the Company may act as a data processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrator’s appointment. The Office Holder Data Privacy Notice can be found at www.ey.com/uk/officeholderprivacy
- FAQ 12 October 2020 (download)
- Statement of 30 June 2020 (download)
- Statement of 19 June 2020 (download)
- Statement of 1 June 2020 (download)
- Statement of 15 May 2020 (download)
- Statement of 30 April 2020 (download)
- Statement of 9 April 2020 (download)
- Statement of 31 March 2020 (download)
- Addendum to SFCR December 2018 (download)
- SFCR December 2019 (download)
- SFCR December 2018 (download)
- SFCR June 2018 (download)
- SFCR 2017 (download)
- SFCR 2016 (download)