CX Reinsurance Company Limited (In Administration) (“CX Re” or “the Company”)
On 17 August 2020 the Company entered administration and Simon Edel and Richard Barker of Ernst & Young LLP were appointed as Joint Administrators. The appointment was made by an application to the High Court under the provisions of paragraph 12(1) (b) of Schedule B1 to the Insolvency Act 1986.
In the interests of creditors and having considered all options to conclude the run-off, the directors resolved to place the Company in administration due to its financial position.
The Administration of the Company does not terminate or cancel a current policyholder’s contract of insurance (unless specifically stated in their policy). Valid claims should continue to be submitted through the normal route.
The Joint Administrators will issue formal notice of their appointment to all known policyholders in due course, and will issue a creditors report to all known creditors within eight weeks of appointment, and every six months thereafter.
Should you have any questions or require further information please do not hesitate to contact the Joint Administrators via email at CXRe@uk.ey.com.