Steamship Mutual Underwriting Association Limited with its registered office at Aquatical House, 39 Bell Lane, London, E1 7LU, UK, intends to transfer parts of its non-life insurance portfolio to Steamship Mutual Underwriting Association (Europe) Limited with its registered office in Esperidon 5, 4th Floor, Strovolos, 2001, Nicosia, Cyprus.
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).