In Luxembourg: a life insurance company.

Published
ASU LUXEMBOURGA life insurance company.
The FWU Life Insurance Lux SA was put into liquidation by court decision, due to financial difficulties and the failure of rescue plans.
Friday, January 31, the public limited company FWU Life Insurance LUX SA was dissolved and put into liquidation by a judgment of the Luxembourg district court. This was announced on Monday the insurance police station (CAA).
The life insurance company, based in Luxembourg, is a subsidiary of FWU AG, a German insurance company which had already filed for bankruptcy in July 2024. Due to financial difficulties, the company was no longer able to respect minimum capital requirements. The company had obtained a six -month suspended payment and had to present a realistic short -term financing plan for approval. Finally, the activities were stopped.
The CAA has taken measures to protect and secure the assets of the company. One of the first reactions was to freeze the assets of the insurer, which led to the suspension of payments to the insured. “Additional details concerning this court decision will be published in the coming days,” said the press release published on Monday.
The company’s assessments on Google draw a very negative table. With an average score of 1.9 star for 147 reviews, many customers share considerable problems and non-payment. Some even envisage a joint legal action. Many people also complain about the lack of availability and assistance.
Reports concerning the failure of contract transfers and considerable financial losses are particularly dramatic. An insured person describes his experience: “The company has defrauded me by more than 13,000 euros”. During an interview with an insurance company collaborator, she would have been made to understand that she had no chance of recovering her money. She says she then quoted the law and received this lapidary response: “It is not valid in Luxembourg, you will never see your money again”.
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