Provinzial Rheinland Lebensversicherung Aktiengesellschaft with its registered office at Provinzialplatz 1, 40591 Düsseldorf, Germany, intends to transfer its life insurance portfolio to Provinzial NordWest Lebensversicherung Aktiengesellschaft with its registered office at Sophienblatt 33, 24114 Kiel, Germany.
According to information from the German supervisory authority contracts with insurance policyholders in Austria are also affected. A termination right exists for insurance policy holders pursuant to Article 31 para. 2 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016).