SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaftwith its registered office in Große Elbstraße 14, 22767 Hamburg, Germany, has transferred its entire non-life insurance portfolio to DARAG Deutsche Versicherungs- und Rückversicherungs-AG with its registered office in Hermannstraße 15, 20095 Hamburg, Germany. The portfolio transfer became effective on 31.12.2019.
According to information received from the German supervisory authority, this also includes policies held by policyholders or insured persons in Austria.
A termination right exists for insurance policy holders pursuant to Article 31 para. 2 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016).