Arch Insurance Receives Approval for Part VII Transfer LONDON (Business Wire) Arch Insurance (UK) Limited has today announced that it has received approval from the High Court of Justice of England and Wales to transfer to Arch Insurance (EU) dac the insurance business carried on by Arch Insurance (UK) Limited (excluding inwards reinsurance business) in any state within the European Economic Area, to ensure continuity of coverage for policyholders utilising Arch Insurance (EU) dac’s freedom of establishment and/or freedom of services.
Womble Bond Dickinson (UK) LLP were advisors on the Part VII transfer from Arch Insurance (UK) Limited to Arch Insurance (EU) dac in Ireland. This will take effect on 31 December 2020, following the receipt of sanction from the High Court on 18 December 2020. The transfer required the approvals of the Prudential Regulation Authority, the Financial Conduct Authority, the Central Bank of Ireland and each regulator in the EEA, and involved over 76,00