UK insurance firm goes into administration
East West Insurance Company was forced into administration following a Court of Appeal ruling on a claim.
The Financial Conduct Authority (FCA) and the Financial Services Compensation Scheme (FSCS) have confirmed that UK company East West Insurance Company has been placed in administration.
According to filings on the East West website the company has been in difficulty since a Court of Appeal decision in December last year, which, if applied to all current and potential claims, would impede East West’s ability to meet its liabilities in a timely manner
The filing detailed: “This situation
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