Insurance Portfolio Transfer
We are pleased to inform you that on 24 May 2016 the Commissariat aux Assurances approved – with the prior consent of the Istituto per la Vigilanza sulle Assicurazioni, IVASS – the transfer of the entire Private Banking Life Solution Life Insurance portfolio, including the unit-linked life policies, from Zurich Eurolife S.A. (with registered office in Luxemburg) to Lombard International Assurance S.A. (with registered office in 4 rue Lou Hemmer, L-1748 Luxembourg) with effect from 26 May 2016.
IVASS published a specific notice on its bulletin, Year IV, No. 6/2016, page. 175, available here.
Starting from the effective date of the transfer, all Italian policies included in the transferred portfolio shall be deemed assigned, for all intents and purposes, to Lombard International Assurance S.A. with registered office in 4 rue Lou Hemmer, L-1748 Luxembourg. Rights and obligations related to the policies included in the portfolio will not be affected by any changes as a consequence of the transaction.
Right to cancel the policy (only for policyholder with domicile / registered office in Italy)
Please note that, according to applicable law, the right to cancel the policy (or policies) can be exercised within 60 days from the date of the notice on the IVASS Bulletin as indicated above (i.e. by the 27 September 2016). In order to cancel the policy (or policies) a written notice needs to be sent to Lombard International Assurance S.A. at the following address in 4 rue Lou Hemmer, L-1748 Luxembourg within the above-mentioned period. Lombard International Assurance S.A. will consider the withdrawal notice valid even if received after 27 September 2016, as long as sent by 27 September 2016.
Insurance intermediaries in charge of the management of the policy
The transfer of the portfolio will not imply any changes to the distribution network. Therefore, the policies distributed through intermediaries will continue to be managed by the same entities without interruption in service and quality.
For any further information, comments or queries about the transfer, it is possible to contact Lombard International Assurance S.A. by mail: Team_CS_italy@lombardinternational.com, in writing at 4 rue Lou Hemmer, L-1748 Luxembourg or by calling the helpline on +352 34 61 91.