Elite Insurance Company Ltd

Failed 11 December 2019

FRN: 446926

Elite Insurance Company Ltd (“Elite”), a Gibraltar-based insurance company, entered administration on 11 December 2019 and is no longer paying claims. FSCS declared the firm in default on 11 December 2019 and is stepping in to protect the majority of policies Elite sold in the UK to individuals and small businesses.

FSCS is working closely with Elite’s administrator PwC LLP and the Gibraltar Financial Services Commission to understand the impact of Elite going into administration. We will continue to update this page with the latest developments.

Latest updates

  • 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.

FSCS will protect most UK-based customers of Elite who are individuals or small businesses with an annual turnover of less than £1m. You can find more information on FSCS protection rules and limits on our website.

On 14 June 2021 Armour Group stopped managing Elite's claims handling functions. The Administrators have appointed Quest Consulting (London) Ltd as the new claims handling provider so there should be minimal disruption to this aspect of the business.   

Please direct all claims enquiries to Elite-insurance.uk@quest-group.co.uk or call 0207 129 8147

FSCS will share more information on this once the administrator has confirmed how they intend premium refund claims to be calculated.

FSCS

Contact us on the number below, or via any of the methods on our Contact us page.
Phone contact icon 0800 678 1100