04 Jan 2021

WBD has advised on the Part VII transfer to Arch Insurance (EU) dac of insurance business carried on by Arch Insurance (UK) Limited (excluding inwards reinsurance business) within the European Economic Area.

This took effect on 31 December 2020, following the receipt of sanction from the High Court on 18 December 2020.

The transfer required the approvals of the Prudential Regulation Authority, the Financial Conduct Authority, the Central Bank of Ireland and each regulator in the EEA, and involved over 76,000 notifications to policyholders and affected parties.

Corporate partner Tom Fitzpatrick and insurance partner Jonathan Drake led the WBD team.