Рortfolio transfer from „TT Club Mutual Insurance Limited” to “UK P&I Club N.V.“.
The Financial Supervision Commission (FSC) has been notified by the competent authority of United Kingdom of the forthcoming portfolio transfer from insurance undertaking „TT Club Mutual Insurance Limited” (with head office in the United Kingdom) to “UK P&I Club N.V.“ (with head office in the Netherlands). After reviewing the portfolio documents, the FSC decided to send a letter to the national competent authority of United Kingdom on granting consent for the transfer of the insurance portfolio from „TT Club Mutual Insurance Limited” to “UK P&I Club N.V.“. The transferred portfolio contains insurance policies issued before the end of the transitional period on 31st December 2020.
After the insurance portfolio transfer only insurance undertaking “UK P&I Club N.V.“ will continue to operate on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services.