(The information published on 06.02.2025 has been updated to the Q&As published by the supervisory authority in Luxembourg and the affected insurance contracts with customers in Austria)
In a ruling dated 31 January 2025, the competent local court in Luxembourg has declared that the life insurance undertaking FWU Life Insurance Lux S.A. is to be dissolved and liquidated. Attorney Yann Baden has been appointed as liquidator.
As the competent supervisory authority, the Commissariat aux Assurances (CAA) has also published an excerpt of the court’s decision on its website and Q&As (FWU_FAQ).
FWU Life Insurance Lux S.A. is an EEA insurer authorised in Austria to provide services and has several hundred customers. Financial supervision of FWU Life Insurance Lux is conducted by the CAA as the supervisory in its domestic market – and not by the Austrian Financial Market Authority (FMA). For customers of FWU Life Insurance Lux S.A. it is therefore important to ensure that claims are asserted in a timely manner, and that legal advice is sought where necessary. The CAA website already contains initial details about how to proceed as well as applicable deadlines.
FWU Life Insurance Lux, registered in Luxembourg, should not be confused with FWU Life Insurance Austria AG which is registered in Austria. The latter is a separate life insurance undertaking that is subject to supervision by the FMA.