| Link(s): https://www.fca.org.uk/news/news-stories/east-west-insurance-company-limited-enters-administration |
Context
The FCA has confirmed that insurance firm East West was placed into administration on 12 October 2020. Richard Barker and Simon Edel, both of Ernst & Young LLP, were appointed as Joint Administrators.
Key points to note
- East West Insurance Company Limited (East West) is an insurance firm authorised and regulated in the UK by the PRA and the FCA.
- On 12 October 2020, following application to the High Court of Justice, East West was placed into administration.
- The firm has ceased writing any new insurance and has been focused on claims management and run-off.
- The firm had a range of insurance policies including building guarantee policies.
- The administrators will be writing to policyholders in due course.
- More details can be found on East West’s website: https://east-west-insurance.com/, Ernst & Young’s website: https://www.ey.com/en_uk/eastwestinsurance, and from the FSCS https://www.fscs.org.uk/failed-firms/east-west/