Elite Insurance Company Ltd

Latest updates

• 25 Mar, 2026

  Elite Scheme update - Scheme Meetings and how to vote

  On 13 March 2026, the Supreme Court of Gibraltar granted Elite permission to convene meetings of creditors to consider and vote on the proposed scheme of arrangement (“Scheme”). Two Scheme Meetings (one for each class within the proposed scheme of arrangement) will be held virtually on 7 May 2026. One of these meetings is for creditors of Elite that are eligible for protection by FSCS.

  Creditors should consider the Explanatory Statement and Scheme document, which are available on the Joint Administrators’ Elite website. These documents contain important information about the Scheme and its potential impact. Creditors are encouraged to read them carefully, consider their contents in full, and take independent legal advice if you consider it appropriate.

  The easiest way to receive updates and participate in the voting process is via the dedicated creditor portal. To do so, creditors should register by completing the Registration Form at https://reg.ips-docs.com/reghome. Please enter code EliteScheme26 when prompted. On registration, you will receive confirmation by email, followed by your unique login details for the online portal, through which you may vote and submit claims in the proposed scheme of arrangement. A paper Claim and Voting Form is also available on the Elite website.

  All Scheme Creditors are encouraged to vote on the Scheme. If the Scheme becomes effective, it will be binding on all Scheme Creditors, including those who vote against the Scheme or do not vote. If the Scheme does not go ahead, the Joint Administrators are of the opinion that any remaining unexpired Elite insurance policies protected by FSCS will be disclaimed and Elite will be liquidated.

  The Joint Administrators consider that the Scheme provides a fairer and more efficient mechanism for assessing, valuing and paying claims than would be possible in a liquidation.
  
  Furthermore, compared to a liquidation, the Scheme is expected to enable an earlier distribution to creditors and reduce the costs associated with the insolvency process. If the Scheme becomes effective, creditors who are eligible for FSCS protection will continue to benefit from this protection and should continue to submit claims in the ordinary course of business, until the cut-off date, expected to be 31 December 2027.
  
  

  Quest Group contact details:

  Email - elite-insurance.scheme@quest-group.co.uk

  Telephone - 0800 327 7278

• 21 Jan, 2026

  Arrangement with Joint Administrators and FSCS protection

  Elite plans to use a court‑approved process called a “scheme of arrangement” to close the business fairly and efficiently. If you hold an Elite policy, or have a claim under one, the scheme of arrangement may affect your legal rights and how current or future claims are handled.

  FSCS is working with the Joint Administrators on an arrangement that allows eligible customers to benefit from FSCS protection without disadvantaging other creditors.
  
  If you hold an Elite policy that qualifies for FSCS protection, you can access FSCS compensation (subject to your having a valid claim) up to the cut‑off date, expected to be 31 December 2027. After that date, FSCS‑protected policies will be treated as disclaimed (legally ended). This arrangement will only apply if the Scheme of Arrangement is successfully put in place.

  Check if you’re eligible

  Please read the information on our website and consider whether you have a claim against Elite that qualifies for FSCS protection. Read more information on eligibility for FSCS protection.

  More information and important notice

  For full details, read the Practice Statement Letter (PSL). It explains more about the Scheme and what it could mean for you. 
  
  If you require more information about Elite or the Scheme of Arrangement, please contact the Quest Group using the contact details below.

  Email - elite-insurance.scheme@quest-group.co.uk

  Telephone - 0800 327 7278

  This notice is general information only. It is not advice and does not decide your claim.

• 20 May, 2022

  The Elite SDLT Scheme 

  In June 2021, Quest wrote to all known beneficiaries of policies in relation to an SDLT mitigation planning insurance scheme underwritten by Elite Insurance regarding certain claims that had been made under those policies. 

  FSCS has recently confirmed that claims made under these policies are not eligible for FSCS protection.  

  For more information, please refer to the PWC website.  

• 11 Dec, 2020

  The Joint Administrators have now disclaimed active After-the-Event (ATE) insurance policies underwritten by Elite. As a result of the disclaimer, affected policies are terminated with effect from (and including) 11 December 2020.

  For more information, please refer to the PWC website. 

• 11 Mar, 2020

  FSCS has now paid £5.4m helping protect UK customers of Elite Insurance since it entered administration 3 months ago. We’re continuing to work closely with the administrators and claims handlers of Elite to ensure protected claims are processed swiftly.

• 11 Dec, 2019

  Elite Insurance has failed. To keep up to date with how this affects policyholders, sign up for email updates, above.