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Aviva plans to transfer Irish policies

  • Ireland
  • General

03-10-2018

It has been reported that UK insurer Aviva is preparing for Brexit by switching Irish policyholders to a newly created Irish-domiciled company so that it will continue to be able to insure Irish customers once the UK leaves the EU. As Aviva currently writes insurance business in Ireland on a freedom-of-service basis, the role of regulating it will move from the Bank of England to the Central Bank of Ireland. According to Aviva, all policies issued through Aviva’s branch in Ireland will transfer to the new company, as will certain policies issued through its former branches in France and Belgium and certain commercial and retail policies where some or all of the risk insured is situated in EU/EEA States other than the UK. The transfer of such policies is subject to court approval in Edinburgh on January 15th, and if approved the policies will transfer on February 1st, 2019.

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