The Financial Supervision Commission (FSC) has been notified by the competent authority of Germany (BaFin) of concluded portfolio transfer from the insurance undertaking „Westfälische Provinzial Versicherung Aktiengesellschaft“ to „Provinzial Rheinland Versicherung Aktiengesellschaft“.
In August 2021 BaFin has notified about the forthcoming portfolio transfer. After the review of the documents the FSC has already informed BaFin of granting its consent for the insurance portfolio transfer.
After the transfer Provinzial Rheinland Versicherung AG will run the portfolio of Westfälische Provinzial Versicherung Aktiengesellschaft“ under the new name – Insurance Company Provinzial Versicherung Aktiengesellschaft.