A Luxembourg court ordered Life insurance company FWU Life Insurance Lux into liquidation on Monday after several years of protracted troubles for the company.
Luxembourg life insurer insolvency puts 30,000 pensions at risk
The Luxembourg insurance supervisory authority, the Commissariat aux Assurances (CAA), fined the company €200,000 in August 2024 for “deficiencies detected in the product supervision process and governance requirements”. The fine was accompanied by a ban on marketing its products in France.
No rescue possible
Last summer, FWU Life Insurance Lux SA informed the CAA that it “no longer met the Solvency Capital Requirement and Minimum Capital Requirement” set under law. Under threat of having its licence…
