FWU Life Insurance Lux S.A. Faces Solvency Issues
The Luxembourg-based insurance company FWU Life Insurance Lux S.A. has been determined to no longer meet the necessary solvency requirements as stipulated by relevant European legislation. This information was communicated to the Bank of Greece by the Luxembourg supervisory authority, known as the Commissariat Aux Assurances (CAA).
Regulatory Actions and Company Restructuring
As a result of this situation, the appropriate authorities in Luxembourg are implementing required measures to protect the interests of policyholders and beneficiaries. These actions are in response to ongoing restructuring processes aimed at stabilizing the company.
Operational Status in Greece
In Greece, FWU Life Insurance operates under the framework of Freedom to Provide Services (FPS). The Bank of Greece has issued a statement regarding the company’s current status and the measures being taken to address the challenges it faces.
