East West Insurance Company Limited

East West Insurance Company Limited (in Administration) ("the Company" or "EWIC") 

On 12 October 2020 Richard Barker and Simon Edel of EY were appointed as Joint Administrators of East West Insurance Company Limited (“the Company” or “EWIC”). The appointment was made by the High Court following an application under the provisions of paragraph 12(1) (b) of Schedule B1 to the Insolvency Act 1986.    

Latest update from the Joint Administrators to all known creditors

Please refer to the latest progress report dated 10 November 2023 that is included below. This report covers the period from 12 April 2023 to 11 October 2023 and should be read in conjunction with the Joint Administrators’ Statement of Proposals dated 3 December 2020 (“the Proposals”), the Joint Administrators’ initial fee estimate and details of expenses dated 3 December 2020, and the Joint Administrators’ first, second, third and fourth progress reports dated 10 May 2021, 11 November 2021, 10 May 2022, 9 November 2022 and 10 May 2023 respectively. All these documents are provided in the “Administration documents” section below.

At a court hearing held on 28 March 2023, following an application made by the Joint Administrators, it was ordered that the administration be extended until 4pm on 11 April 2027. A copy of the Court Order can be found in the “Extension of the Administration” section below.

If you require any further information or assistance, please consult the FAQs provided in the “Administration documents” section below or contact us at team@east-west-insurance.com.

The Financial Services Compensation Scheme ("FSCS")
The FSCS protects UK policyholders, generally individuals or small businesses, who are eligible to claim under the Policyholder Protection Rules. Based on the Administrators’ current understanding of the Company’s policyholders, it is expected that a significant number will meet the FSCS’ eligibility rules.

Further to an amendment to the Policyholder Protection Rules on 8 October 2020, building guarantee policyholders protected by the FSCS scheme will receive compensation at 100% of EWIC’s liability for claims.

Further details can be found on the FSCS website at fscs.org.uk/what-we-cover/insurance/

All media enquiries are directed to contact Seetle.Dool@uk.ey.com.

Richard Barker and Simon Edel are licensed in the United Kingdom to act as Insolvency Practitioners by The Insolvency Practitioners Association.
The affairs, business and property of the Company are being managed by the Joint Administrators, Richard Barker and Simon Edel, who act as agents of the Company only and without personal liability.
The Joint Administrators may act as data controllers of personal data as defined by the UK General Data Protection Regulation (as incorporated in the Data Protection Act 2018), depending upon the specific processing activities undertaken. Ernst & Young LLP and/or the Company may act as a data processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrator’s appointment. The Office Holder Data Privacy Notice can be found at www.ey.com/uk/officeholderprivacy.