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Winding-up

The Directive provides that the opening of reorganisation measures and winding-up proceedings concerning insurance undertakings shall be decided by the competent authorities of the Member State in which the undertaking is authorised (home Member State) and under the home national legislation. The proceedings shall include all branches of the insurance undertaking in the Community. The creditors shall be duly informed and treated without discrimination regardless of the Member State in which they are resident.

Claims arising from insurance contracts will have a preferential treatment according to one of two systems provided for in the Directive from which Member States should opt: i) insurance claims have absolute precedence over any other claim with respect to assets representing the technical provisions, or ii) insurance claims have a special rank so that they may only be preceded by claims on salaries, social security, taxes and "rights in rem" over the whole assets of the insurance undertaking.

Directive

Forms for publication of reorganisation measures and winding-up decisions

At the meeting of the European Insurance and Occupational Pensions Committee on 5 April 2006 agreement was reached on the tables to be used for the publication in the Official Journal of the European Communities of information on reorganisation measures and winding-up decisions. The Commission requests the competent authorities or any other person entitled to do so to use the tables below, as and when necessary, by filling them in and sending them electronically to markt-h5@ec.europa.eu.

Publication in the OJ

  • Reorganisation measures - Decision on a reorganisation measure in respect of Societatea Carpatica Asig S.A. – OJ C 190 of 26/6/2014
  • Reorganisation measures - Decision on a reorganisation measure in respect of DIRECT Pojišťovny, a.s., in liquidation – OJ C 190 of 26/6/2014
  • Winding-up proceedings - Decision to open winding-up proceedings against LA VIE GREEK PUBLIC LIMITED HEALTH INSURANCE COMPANY – OJ C 185 of 17/6/2014
  • Winding-up proceedings - Decision to open winding-up proceedings in respect of Setanta Insurance Company Limited – OJ C 176 of 11/6/2014
  • Reorganisation measures - Decision on a reorganisation measure in respect of Societatea de Asigurare-Reasigurare ASTRA SA – OJ C 160 of 27/5/2014
  • Reorganisation measures - Decision on a reorganisation measure in respect of Millburn Insurance Company Limited – OJ C 155 of 23/5/2014
  • Reorganisation measures - Decision on a reorganisation measure in respect of Societatea de Asigurare-Reasigurare ASTRA SA – OJ C 111 of 12/4/2014
  • Winding-up proceedings - Decision to open winding-up proceedings in respect of ISLAND CAPITAL (EUROPE) LIMITED – OJ C 111 of 12/4/2014
  • Corrigendum to Winding-up proceedings — Decision to open winding-up proceedings in respect of apdrošināšanas akciju sabiedrību (AAS) ‘BALVA’ ( OJ C 299, 15.10.2013) – OJ C35 of 6/2/2014
  • Reorganisation measures — Decision on the measure to reorganise “LA VIE LIMITED GREEK HEALTH INSURANCE COMPANY” – OJ C309 of 22/10/2013
  • Winding-up proceedings — Decision to open winding-up proceedings in respect of apdrošināšanas akciju sabiedrību (AAS) “BALVA” – OJ C299 of 15/10/2013
  • Winding-up proceedings — Decision to initiate winding-up proceedings against ΔΙΕΘΝΗΣ ΕΝΩΣΙΣ Α.Α.Ε. (International Union Insurances SA) – OJ C269 of 18/9/2013
  • Reorganisation Measures — Decision regarding a reorganisation measure for “International Union Insurances” – OJ C216 of 30/7/2013
  • Winding-up proceedings — Decision to make a winding-up order in respect of Hill Insurance Company Limited – OJ C122 of 27/4/2013
  • Notification of winding up order and appointment of joint liquidators in respect of De Vert Insurance Company Limited – OJ C122 of 27/4/2013
  • Winding-up proceedings — Decision to launch winding-up proceedings in respect of EVIMA GROUP AAE - OJ C92 of 28/3/2013
  • Winding-up proceedings — Decision to make a winding-up order in respect of Lemma Europe Insurance Company Limited - OJ C92 of 28/3/2013
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of AIM Általános Biztosító Zrt. (AIM General Insurance Private Company Limited by Shares) – OJ C56 of 26.02.2013
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Hill Insurance Company Limited  – OJ C56 of 26.02.2013
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Lemma Europe Insurance Company Limited – OJ C12 of 16.01.2013
  • Reorganisation measure – Decision on closing the financial recovery procedure for Forte Asigurări SA (Publication pursuant to Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C288pdf of 25.09.2012
  • Winding-up proceedings – Decision (Orden ECC/1499/2012 of 19 June 2012) to commence winding-up proceedings with respect to M. G. D. Mutualidad General Deportiva de Previsión Social – OJ C238 of 08.08.2012
  • Reorganisation measures – Decision concerning the approval of the resumption of activities by SOCIETĂȚEA DE ASIGURARE-REASIGURARE LIG INSURANCE S.A. – OJ C215pdf of 21.07.2012
  • Reorganisation measures – Decision approving the transfer of insurance portfolio from Omniasig Vienna Insurance Group SA, as transferor, to BCR Asigurări Vienna Insurance Group SA, as transferee, and the merger by acquisition concluded between BCR Asigurări Vienna Insurance Group SA, as the acquiring company, and Omniasig Vienna Insurance Group SA, as the target company – OJ C155 of 01.06.2012
  • Reorganisation measure – Decision on temporary prohibition of the activity of Societatea de Asigurare-Reasigurare Lig Insurance SA – OJ C127 of 01.05.2012
  • Reorganisation measure – Decision on a portfolio transfer and authorisation withdrawal on-request in respect of Societatea de Asigurări Chartis România SA – OJ C55 of 27.04.2012
  • Decision to lift a reorganisation measure in respect of Apra Leven NV (Publication pursuant to Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C55 of 24.02.2012
  • Decision concerning a reorganisation measure in respect of FORTE Asigurari SA (Publication pursuant to Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C31 of 04.02.2012
  • Winding-up proceedings – Notification on behalf of the Malta Financial Services Authority of the appointment of a liquidator for the purposes of winding-up the affairs of the company (Publication made in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C341 of 22.11.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of FARO Compagnia di Assicurazioni e Riassicurazioni SpA (Publication in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C286 of 30.09.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of LEX LIFE & PENSION SA (Publication in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C236 of 12.08.2011
  • Winding-up proceedings – Decision to launch winding-up proceedings in respect of Eurostar E.A.E.A.Z. (Publication pursuant to Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C170 of 10.06.2011
  • Winding-up proceedings – Decision to launch winding-up proceedings in respect of Evropaiki Pronia A.E.G.A. (Publication pursuant to Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C 141 of 12.05.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Novit Assicurazioni SpA and Sequoia Partecipazioni SpA (Publication in accordance with Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings). Publication pursuant to Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit insitutions – OJ C 141 of 12.05.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Western International Insurance Company (Europe) Limited (Publication made in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C 141 of 12.05.2011
  • Winding-up procedure – Decision concerning a winding-up procedure in respect of Apra Leven NV (Publication pursuant to Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C 114 of 12.04.2011
  • Decision concerning a reorganisation measure in respect of Apra Leven NV (Publication pursuant to Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C 114 of 12.04.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of FARO Compagnia di Assicurazioni e Riassicurazioni SpA (Publication in accordance with Article 6 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C96 of 29.03.2011
  • Winding-up procedures – Decision to initiate winding-up procedures in respect of VDV Leben Ιnternational ΑΕΑΖ (Publication as required by Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C32 of 01.02.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of ARFIN Compagnia di Assicurazioni e Riassicurazioni SpA (Publication in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C22 of 22.01.2011
  • Winding-up proceedings – Decision to open winding-up proceedings (Voluntary winding-up following a decision of the extraordinary general meeting of the mutual enterprise Universum Towarzystwa Ubezpieczeń na Życie SA concerning the winding-up of the insurance undertaking) (Publication made in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C22 of 22.01.2011
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of International Insurance Corporation (IIC) NV (Publication made in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council of 19 March 2001 on the reorganisation and winding-up of insurance undertakings and article 213h Dutch Bankruptcy Act) – OJ C323 of 30/11/2010
  • Winding-up proceedings – Decision on a reorganisation measure relating to ARFIN Compagnia di Assicurazioni e Riassicurazioni SpA (Publication in accordance with Article 6 of Directive 2001/17/EC of the European Parliament and of the Council of 19 March 2001 on the reorganisation and winding-up of insurance undertakings) – OJ C259 of 25.09.2010
  • Winding-up proceedings – Decision to open winding-up proceedings (Voluntary winding-up following a decision of the extraordinary general meeting of the mutual enterprise Towarzystwo Ubezpieczeń Wzajemnych Bezpieczny DOM concerning the winding-up of the insurance undertaking) (Publication made in accordance with Article 14 of Directive 2001/17/EC of the European Parliament and of the Council on the reorganisation and winding-up of insurance undertakings) – OJ C245 of 11/9/2010
  • Winding-up proceedings – Decision to reduce the period of validity of the insurance contracts in respect of International Insurance Corporation (IIC) NV (Publication made in accordance with Article 3:162(5) of the Dutch Act on Financial Supervision) – OJ C 239 of 4/9/2010
  • Winding-up proceedings – Decision on a reorganisation measure in respect of ARFIN Compagnia di Assicurazioni e Riassicurazioni SpAOJ C160 of 19.6.2010
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Progress Assicurazioni SpAOJ C147 of 5.6.2010
  • Winding-up proceedings – Decision to initiate winding up proceedings in respect of Seguros Mercurio, SAOJ C132 of 21.5.2010
  • Winding-up proceedings – Decision on a reorganisation measure in respect of KD Life Asigurări S.A.OJ C95 of 15.4.2010
  • Winding-up proceedings – Decision on a reorganisation measure in respect of Commercial Value Insurance A.A.E.OJ C87 of 01.04.2010
  • Winding-up proceedings – Decision on a reorganisation measure in respect of Progress Assicurazioni S.p.A.OJ C87 of 01.04.2010
  • Winding-up proceedings – Decision on a reorganisation measure in respect of Commercial Value Insurance A.A.E.OJ 20 of 27.01.2010
  • Winding-up proceedings – Decision to open winding-up proceedings against Aspis Pronia Anonimi Eteria Yenikon AsfalionOJ C263 of 05.11.209
  • Winding-up proceedings – Decision to open winding-up proceedings against Yeniki Enosi Anonimi Elliniki Eteria Yenikon AsfalionOJ C263 of 05.11.209
  • Winding-up proceedings – Decision to open winding-up proceedings against Geniki Pisti Anonimi Elliniki Eteria Yenikon AsfaliseonOJ C263 of 05.11.209
  • Winding-up proceedings – Decision to open winding-up proceedings against G.E. Skourtis Anonimi Eteria Yenikon AsfalionOJ C263 of 05.11.209
  • Winding-up proceedings – Decision to open winding-up proceedings against Aspis Pronia Anonimi Eteria Asfaliseon ZimionOJ C263 of 05.11.209
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Societatea de Asigurari si Reasigurari EUROASIG S.A.OJ 81 of 04.04.2009
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of European Manufacturers Insurance Company LimitedOJ 330 of 30.12.2008
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Black Sea and Baltic General Insurance Company LimitedOJ C 251 of 03.10.2008
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Eurolife Assurance (International) Limited (GIB) – OJ C 12 of 17.01.2008
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Hullberry Insurance Company Onderlinge Waarborgmaatschappij U.A. (NL) – OJ C 19 of 25.01.2008
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Centro Asegurador, Compania de seguros y reaseguros, S.A. (ES) – OJ C 88 of 21.04.2007
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Hildun AD (BG) – OJ C 74 of 31.03.2007
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of MZK EVROPA AD (BG) – OJ C 64 of 20.03.2007
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of EUROLIFE Assurance (International) Limited (GIB) – OJ C 052 of 07/03/2007
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Marina Mutual Insurance Association Limited (UK) – OJ C 22 of 31.01.2007
  • Winding-up proceedings – Decision to open winding-up proceedings in respect of Ancora Versicherungs-Aktiengesellschaft (DE) – OJ C 225 of 19.09.2006
  • Reorganisation measures – Decision on a reorganisation measure in respect of Faro Compagnia di Assicurazioni e Riassicurazioni s.p.a. (IT) – OJ C 194 of 18.08.2006
  • Reorganisation measures – Decision on a reorganisation measure in respect of Faro Compagnia di Assicurazioni e Riassicurazioni s.p.a. (IT) – OJ C 161 of 12.07.2006