The European Insurance and Occupational Pensions Authority informs policyholders that on 31 January 2025 the District Court of Luxembourg decided on the liquidation and dissolution of FWU Life Insurance Luxembourg (FWU Luxembourg) (see here).
Ever since FWU AG (FWU Luxembourg’s parent company) entered into insolvency proceedings, EIOPA has on several occasions provided relevant information to policyholders on developments related to this case (see here and here).
Following the failure of FWU Luxembourg’s recovery plan and the request of the insurer’s national supervisor (Commissariat aux Assurances, or CAA) to the District Court of Luxembourg to dissolve and liquidate FWU Luxembourg (see here), the company has suspended the collection of policyholder premiums from 23 January 2025 (see here).
As communicated by the CAA (see here), FWU AG has recently cut off all IT access to FWU Luxembourg as well as to its French, German, Italian and Spanish branches. As a result, FWU Luxembourg’s customers are, for the time being, unable to contact the company. The company is working on a solution, and more information will be made available shortly.
On 5 February 2025, the liquidator published initial information on the liquidation process (see here). Further information to policyholders will be provided by the CAA and the liquidator of FWU Luxembourg in the coming days, including a detailed Q&A document on the liquidation itself, the payout process and other relevant aspects. EIOPA will provide a link to these Q&As once available.
What can consumers do?
The liquidation process has started. Further guidance to policyholders will be provided by the liquidator and the CAA in due course. Consumers are advised to check their websites regularly.
In addition to this communication, policyholders are invited to consult the information available on the website the Luxembourgish supervisory authority and the national supervisory authority of their country of residence.
- Austria – Finanzmarktaufsicht
- Belgium – L’Autorité des services et marchés financiers
- France – L’Autorité de contrôle prudentiel et de résolution
- Germany – Bundesanstalt für Finanzdienstleistungsaufsicht
- Italy – Istituto per la vigilanza sulle assicurazioni
- Luxembourg – Commissariat aux Assurances
- Spain – Dirección General de Seguros y Fondos de Pensiones