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Portfolio Transfer between Spanish insurance undertakings

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MAPFRE GLOBAL RISKS, COMPAÑIA INTERNACIONAL DE SEGUROS Y REASEGUROS, S.A. has transferred its entire non-life insurance portfolio to MAPFRE ESPAÑA, COMPAÑIA DE SEGUROS Y REASEGUROS, S.A. by way of a demerger by means of universal succession. Both undertakings have their registered office at Carretera de Pozuelo 50, Majadahonda, 28222, Madrid, Spain. The portfolio transfer became effective on 01.01.2019.

According to information from the Spanish supervisory authority contracts with insurance policyholders or insured persons in Austria are also affected.

In the case of universal succestion there is no termination right for policyholders pursuant to Article 31 para. 4 of the Insurance Supervision Act 2016 (VAG 2016).