Reorganisation measures — Decision on measures to reorganise ‘International Life, Life Insurance SA’ (Publication made in accordance with Article 271 of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II))
Date: 2016-12-17
Institutions: European Commission
Subjects: EU control, Greece, insurance company, liquidation








C_2016474EN.01000401.xml










17.12.2016   


EN


Official Journal of the European Union


C 474/4





Reorganisation measures
Decision on measures to reorganise ‘International Life, Life Insurance SA’
(Publication made in accordance with Article 271 of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II))
(2016/C 474/06)






Insurance undertaking


‘International Life, Life Insurance SA’, with its registered office at Kifisias 7 & Neapoleos 2, 15123 Marousi, General Commercial Register (GEMI) No 000954901000, Tax Identification Number (TIN) 094327788, Legal Entity Identifier (LEI) 213800HFA633NACOEZ72




Date, nature of the decision and date of entry into force


Decision No 202/1/19.9.2016 of the Credit and Insurance Committee of the Bank of Greece concerning:






(1)


the assignment to the Insurance Administrator, Mr Ioannis Peristeris, of the administration of the insurance undertaking, in replacement of the Board of Directors;










(2)


the obligation of the Insurance Administrator:






(a)


to assign to experts the tasks of examining the immovable property files of the insurance undertaking, selected by the insurance undertaking contractor in order to complete the transfer of the portfolio approved by decision No 197/1/1.9.2016 of the Credit and Insurance Committee of the Bank of Greece, and the drawing up and delivery to the undertaking of the relevant report, which must particularly provide details on: (aa) the legal status of the immovable property as regards ownership thereof and any proprietary rights thereon; (ab) the actions, estimated time and costs necessary to regularise the immovable property for the purpose of the transfer thereof; and










(b)


to submit the expert report to the Bank of Greece by 3 October 2016, including comments on the ability of the insurance undertaking to implement the required actions;














(3)


the maintenance in force of the measures under Decisions 185/1/12.5.2016 (Nos 2-5) and 198/1/13.9.2016 of the Credit and Insurance Committee of the Bank of Greece, and in particular the extension of the suspension of any payments and instalments by the insurance undertaking until 31 October 2016, as enforced by the first decision.




Entry into force: As of the adoption date (19.9.2016)
End of validity: Not defined




Competent authorities


Bank of Greece
Address:





E. Venizelou 21




102 50 Athens




GREECE








Supervisory authorities


Bank of Greece
Address:





E. Venizelou 21




102 50 Athens




GREECE








Administrator appointed


Ioannis Peristeris, father’s name Dimitrios




Applicable law


Greek law in accordance with Articles 223, 224, 225, 228 and 229 of Law 4364/2016.