Arch Insurance (UK) Limited with its registered office at 5th Floor Plantation Place South, 60 Great Tower Street, London, EC3R 5AZ, United Kingdom, intends to transfer parts of its non-life insurance portfolio to Arch Insurance (EU) DAC with its registered office at 2nd Floor, Block 3 The Oval, 160 Shelbourne Road, Ballsbridge, Dublin 4, Ireland.
According to information received from the British supervisory authority, policies held by policyholders in Austria are also affected.
A termination right exists for insurance policy holders pursuant to Article 31 para. 2 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016).