Update: Statement - Alpha Insurance A/S

02 July 2018 Press Release

Insurance

2 July 2018

The Central Bank has been notified that the website of Alpha Insurance A/S has been updated with country specific information on the insolvency proceedings. For further information please refer to the website.

13 June 2018

The Central Bank has been notified that liquidators of the insurance company Alpha Insurance A/S have published additional information for policyholders and claimants on its website. For further information please refer to the website.

9 May 2018

The Central Bank has been notified by the Danish Financial Supervisory Authority that the liquidators of the insurance company Alpha Insurance A/S have filed a petition for bankruptcy.

Policyholders in Ireland, who bought insurance through the broker network, may be affected. Any affected policyholder should contact their broker to arrange alternative cover with immediate effect.

For further information and an FAQ please refer to DFSA website

7 March 2018

Alpha Insurance A/S is a Danish based insurance firm subject to prudential supervision by the Danish Financial Supervisory Authority (DFSA). Alpha Insurance A/S was selling non-life insurance policies in Ireland through the broker network on a freedom of service basis. Its financial position is not supervised by the Central Bank of Ireland (Central Bank) and the Central Bank has no role in that regard. Alpha Insurance A/S also operated in Denmark, France, Germany, Greece, Ireland, Italy, Norway, United Kingdom and Spain.

The Central Bank has been notified by the DFSA that it has ordered Alpha Insurance A/S to cease writing new business including renewal of existing contracts and business with immediate effect.

Policyholders in Ireland, who bought insurance through the broker network, may be affected. Any policyholder who has concerns about their policy should contact their broker directly.

The Central Bank will continue to work closely with the DFSA to ensure all Irish policyholders are identified and are communicated with accordingly.

For further information and an FAQ please refer to DFSA website