Notice of proposed transfer of insurance from Lloyd’s of London to Lloyd’s Brussels
Notice of the proposed transfer of certain general insurance business written at The Society of
Lloyd’s (“Lloyd’s”) to Lloyd’s Insurance Company S.A. (“Lloyd’s Brussels”)
Certain United Kingdom (UK) insurers that are Lloyd’s Members, currently enjoy EEA ‘passporting’ rights to enable policies to be managed within Europe without the need for further authorisation. As a consequence of the UK’s exit from the European Union (‘Brexit’) on 31 January 2020, current EEA passporting is expected to cease at the end of the transition period on 31 December 2020.
Lloyd’s is therefore proposing, on behalf of the Members, to transfer certain policies from the Members to Lloyd’s Brussels (the “proposed transfer”). Lloyd’s Brussels is an insurance company incorporated and regulated in Belgium and is a wholly-owned subsidiary of Lloyd’s.
The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies. Further information about the proposal (including whether it could affect your pre-transfer position), which policies are transferring, your rights and what you need to do can be found at: https://www.lloyds.com/brexit-transfer