PART VII

Part VII Transfer from MIICL to MISE

As part of our plans to look after our clients and brokers with EEA risks after Brexit, we have established a new insurance company in Germany, Markel Insurance SE, to write the sort of European risks previously carried by our London insurance company, Markel International Insurance Company and our Lloyd’s Syndicate 3000. You can see more details here


MISE is now capitalised, licensed, has A ratings from S&P and A.M. Best – the same as MIICL- and has written its first risks. For reasons of cost and simplicity it will be our preferred vehicle for carrying EEA risks.

 

As part of Markel International’s Brexit restructuring plans, we have now completed the transfer of MIICL’s European business to MISE, so that the Markel International group can continue to service this business post-Brexit. The transfer has been carried out by means of an insurance business transfer under Part VII of the UK Financial Services and Markets Act 2000. The statutory process is designed to safeguard the interests of policyholders and has been approved by the High Court of England and Wales (the Court). The legal process and other matters are explained further in the documentation listed below.

 

Letter to transferring surety clients Letter to reinsurance brokers
Letter to coverholders re: EL beneficiaries  Letter to brokers - information only
Letter to transferring policyholders Legal notice
Letter to brokers Scheme summary
Letter to coverholders FAQs - Transferring to MISE
Letter re: EL beneficiaries - transferee The Scheme document
Letter re: EL beneficiaries - transferring The Independent Expert’s report
Letter to transferee policyholders Independent Expert's summary
Letter to reinsurers Supplementary Independent Expert Report 

 

Click the links below to see this page and the relevant documents in the different languages:

German 

Dutch

Spanish

French 

Portuguese