Central Bank of San Marino confirms FWU Life Insurance Lux removed from the Register of Authorized Persons after Luxembourg liquidation order

The Central Bank of San Marino issued a clarification in response to press reports and institutional concerns about FWU Life Insurance Lux, outlining its supervisory actions and confirming that the insurer has been removed from San Marino’s Register of Authorized Persons following a liquidation order issued by the Luxembourg Court. FWU Life Insurance Lux was authorised to operate in San Marino on 26 April 2023 and entered in the former List of Foreign Insurance Companies, with the Luxembourg supervisory authority certifying compliance with solvency requirements at the time and no adverse elements identified. As the group’s financial position deteriorated, the central bank published updates on its website and noted in the list entry that from 3 July 2024 it was no longer possible to underwrite new contracts. It also reported that only two policies totalling EUR 10,000 were distributed in San Marino between April 2023 and July 2024. Following the entry into force of Regulation 2024-02, the List of Foreign Insurance Enterprises was repealed and the firms previously listed were automatically transferred on 19 September 2024 into the Register of Authorized Persons; for FWU this was described as a data transfer. During the transitional phase before compulsory liquidation, the register entry was maintained to show the company’s crisis status and the liquidator’s details, before FWU was deleted from the register on 27 May 2025.