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Transfer of the private medical insurance business of Aetna Health Company of Europe DAC to AWP Health & Life SA, an Allianz entity.
On 15 March 2024, Aetna Health Insurance Company of Europe DAC (“AHICE”) changed its registered name to Aetna Health Company of Europe DAC as part of its application to the Central Bank of Ireland for Voluntary Withdrawal of Authorisation following its Insurance Business Transfer to AWP Health & Life SA. There are no changes to policy terms & conditions for policyholders and members with a historic AHICE policy. Details on how to submit a claim are below.
This website provides information about the Transfer of the private medical insurance business of Aetna Insurance Company Limited (AICL) to AWP P&C SA (Allianz), an Allianz entity operating in the UK through its UK branch, AWP UK, under Part VII of the Financial Services and Markets Act 2000 (Transfer).
The transferred portfolio comprises the following business:
- All insurance policies underwritten by AHICE, including any endorsements or amendments thereto, under which there is still potential liability for claims.
Before the Transfer could proceed, it required the approval (known as “Sanction”) of the High Court. When the High Court sanctioned the Transfer, those insurance policies and liabilities in scope of the Transfer automatically transferred to and became the responsibility of AWP on 1 December 2023 when the Transfer took legal effect.
Brian Morrissey of KPMG (the Independent Actuary) was appointed to prepare a report on the effects of the Transfer on the policyholders of AHICE and AWP (the ). Brian Morrissey, a Fellow of the Institute and Faculty of Actuaries and a Fellow of the Society of Actuaries in Ireland, prepared the Report and he found that policyholders and other interested parties will not be materially adversely affected by the Transfer.
You will find the following information within the relevant sections of this website, to assist you with understanding what the Transfer means for you:
Key Dates: The date on which the Sanction Hearing at the High Court took place and the date on which the Transfer took legal effect.
On 7 November 2023, the parties received approval from the High Court to complete the Transfer, with effect from 1 December 2023.
Documents: Copies of various documents relating to the Transfer, including the Notice setting out details of the court hearings, the Scheme document which sets out the terms of the Transfer, the Report of the Independent Actuary and the information sent to interested parties with details of the Transfer.
FAQs: Answers to questions about the Transfer, including further details of the insurance business included under it, how the Transfer will take place, the effects of the Transfer (including the continuing administration of policies) and the role of the Independent Actuary.
This page contains the key dates for the business transfer
Directions Hearing: 3 July 2023
Sanction Hearing: 7 November 2023
High Court of Ireland
Four Courts, Inns Quay
Dublin 7
Ireland
Effective Date of the Transfer: 1 December 2023