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GFSC statement on Elite Insurance Company Limited (in Administration) (“Elite”) - Delegated Authority and Rate Based After The Event Insurance Disclaimer

14 Dec 20

As set out in our statement dated 11 December 2019, Elite was placed into administration by the Supreme Court of Gibraltar with Edgar Lavarello and Dan Schwarzmann of PwC appointed as joint administrators.

With effect from (and including) 11 December 2020, the joint administrators have disclaimed all active ATE insurance policies underwritten by Elite, except policy numbers 3/16/739278 and 1/17/757700. As a result of the disclaimer, all active ATE insurance policies with the exeption of policies 3/16/739278 and 1/17/757700 are terminated with effect from (and including) 11 December 2020. Under Gibraltar’s Insolvency Act, policyholders, and any other person whose rights are affected by the disclaimer, can submit a claim in Elite’s administration for any loss or damage they suffered as a consequence of the disclaimer.

Further Information

For further information please see below:

• A copy of the letter sent to all Delegated Authority Brokers can be accessed here

• A copy of the letter sent to all Delegated Authority Solicitors can be accessed here

• A copy of the letter sent to all Rate Based Policyholders can be accessed here

• A copy of the letter sent to all Rate Based Brokers can be accessed here

• A copy of the letter sent to all Rate Based Solicitors can be accessed here

Further information is available on the joint administrators website (https://www.pwc.co.uk/elite-insurance). 

The website includes a frequently asked questions document, which can be found here

Correspondence or queries for the Administrators regarding this statement should be sent to:

Delegated Authority ATE: UK_ATEELITE@pwc.com

Rate Based ATE: UK_ELITE_RBATE@pwc.com