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.
- Administration order
- Letter to non-insurance creditors - 18 August 2020
- Letter to all policyholders brokers intermediaries and agents - 19 August 2020
- Letter to creditors with notice of deemed consent and invitation to form a Creditors Committee – 7 October 2020
- Creditors' notice of claim - 7 October 2020
- Creditors’ proof of debt
- Joint Administrators' Statement of Proposals - 7 October 2020
- Joint Administrators' fee estimate and details of expenses - 7 October 2020
- Chapter VX recognition order – 8 October 2020
- Letter to creditors regarding notice of approved Joint Administrators' proposals and creditors' committee - 5 November 2020
- Notice of Approved Joint Administrators’ Proposals - 27 October 2020
- Notice of establishment of Creditors’ Committee - 5 November 2020
- Progress report for the six month period 17 August 2020 to 16 February 2021