East West Insurance Company Limited (00811120): administration
- Status
- In administration
- Administration began
- 2020-10-12
- Administrators
- Simon J Edel, Richard Barker
- Administrators' firm
- EY
- Formerly
- National & General Insurance Company (United Kingdon) Limited
- Incorporated
- 1964-07-01
- Location
- London
- Industry
- 65120 Non-life insurance
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated in England and Wales on 1 July 1964 under the name National & General Insurance Company (United Kingdom) Limited, before changing its name to East West Insurance Company Limited in 1984.
The Company is a non-life insurance business that is authorised and regulated in the UK by the PRA and the FCA. The Company is majority owned by ILS Property & Casualty Re Limited (acting on behalf of its Segregated Cell E), a segregated accounts company incorporated and registered in Bermuda.
Prior to 1997, the Company underwrote a wide variety of general insurance policies which included retail and household business, employers’ liability insurance, and participated in the EAUA Pool and the LMX reinsurance market. The Company ceased writing new business in 1997 and commenced a solvent run-off of liabilities under its (re)insurance contracts.
Administrators' statement of proposals (2020-12-12) · Companies House register