The European Insurance and Occupational Pensions Authority (EIOPA) informed policyholders that the District Court of Luxembourg decided on 31 January 2025 to liquidate and dissolve FWU Life Insurance Luxembourg (FWU Luxembourg), and that the liquidation process has started. The update follows the failure of FWU Luxembourg’s recovery plan and a request by its national supervisor, the Commissariat aux Assurances (CAA), for the company to be dissolved and liquidated. FWU Luxembourg suspended the collection of policyholder premiums from 23 January 2025, and FWU AG has cut off IT access to FWU Luxembourg and its French, German, Italian and Spanish branches, leaving customers temporarily unable to contact the company. Initial information on the liquidation process has been published by the liquidator, with further guidance expected from the CAA and the liquidator in the coming days, including a detailed Q&A covering the liquidation, payout process and related issues. EIOPA indicated it will link to the Q&A once available and advised policyholders to monitor the CAA, the liquidator and relevant national supervisors’ websites.
European Insurance and Occupational Pensions Authority 2025-02-05
European Insurance and Occupational Pensions Authority updates policyholders on court-ordered liquidation of FWU Life Insurance Luxembourg
The European Insurance and Occupational Pensions Authority announced the liquidation of FWU Life Insurance Luxembourg following a District Court of Luxembourg decision on 31 January 2025. The liquidation follows the failure of FWU Luxembourg's recovery plan and a request by the Commissariat aux Assurances. FWU Luxembourg has suspended premium collections, and FWU AG has restricted IT access, affecting customer communication.