Sompo Japan Nipponkoa Insurance Company of Europe Limited with its registered office at 1st Floor, 2 Minster Court, Mincing Lane, London EC3R 7BB, UK intends to transfer parts of its non-life insurance portfolio to SI Insurance (Europe), SA with its registered office at 40, Avenue Monterey, L-2163 Luxembourg.
According to information from the British supervisory authority contracts are also affected held by insurance policyholders in Austria.
Since, according to information from the British supervisory authority, it will occur by way of universal succession, there is no termination right for insurance policyholders pursuant to Article 31 para. 4 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016).