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Setanta Insurance Company Limited (In Liquidation)

The Insurance (Amendment) Act 2018 has now come into law, giving effect to the announcement by the Minister of Finance in January 2018 in relation to Setanta Insurance third party claimants. 

There are a number of provisions in the legislation which impact existing insurance regulation in general, but as regards the liquidation of Setanta Insurance, the key changes are:

Third party personal injury claimants, who are successful in their claims, will receive 100% compensation from the Insurance Compensation Fund (‘The Fund’), including their costs and expenses (if any) necessarily and reasonably incurred in endeavouring to secure payments. 

Likewise, successful third party property damage claimants will receive 100% compensation. 

Setanta Insurance third party personal injury and property damage claimants who have already received 65% compensation from the Fund will receive a balancing payment of 35%.


The Insurance (Amendment) Act 2018 is welcomed by the liquidator as it will allow insurance claimants to be fully compensated and removes the potential exposure of former policyholders of Setanta Insurance to any shortfall in relation to third party claims.   


Accordingly, the Liquidator is most anxious that urgent efforts are now made to bring as many of the outstanding Setanta Insurance cases to a conclusion as soon as practicable.


The Liquidator encourages claimants and their solicitors to make contact with the firms of solicitors that have been instructed by Setanta Insurance to handle the defence of these claims in order to make arrangements to set up settlement meetings in respect of all cases where liability is not being contested.


Please note that the Insurance (Amendment) Act 2018 and the above statements relate solely to insurance claims and their treatment.  Return premiums due to former policyholders, as a consequence of the need by the liquidator to cancel all policies still in force at the time of the liquidation, are not affected and will be incorporated in the ultimate distribution of Setanta Insurance’s assets at the conclusion of the liquidation process.



The Claims Process For Setanta


To make a claim, it is a prerequisite that the claim is covered by an insurance policy, issued by Setanta Insurance, that was valid at the time the incident/ accident giving rise to the claim occurred.  Therefore, the incident /accident must have occurred prior to 26th May 2014, in respect of private vehicle policies and 29th May 2014 in respect of commercial vehicle policies, as it was on these dates that insurance policies issued by Setanta were cancelled by Setanta's liquidator.


Settlement of a claim can be based on:


A settlement agreement between the claimant and Setanta Insurance


An injuries board order to pay


A Court Order


Notice to Policyholders


At an Extraordinary General Meeting of Setanta Insurance Company Limited (‘Setanta Insurance') held on 16th April 2014 it was resolved that Setanta Insurance surrender its insurance business licence to the Malta Financial Services Authority and be immediately dissolved. Furthermore at a meeting of creditors of Setanta Insurance held on 30th April 2014 Paul Mercieca was appointed as liquidator of Setanta Insurance.

Take notice that all policies of insurance issued by or on behalf of Setanta Insurance have now been cancelled. All private vehicle insurance policies issued by Setanta Insurance which remained active on 26th May 2014 were cancelled with immediate effect on that date.  In addition all commercial vehicle insurance policies issued by Setanta Insurance which remained active on 29th May 2014 were cancelled with immediate effect on that date. Notices of cancellation were issued on 19th May 2014 and all policies were cancelled in accordance with the applicable policy documents.

This is in the best interest of policyholders as it avoids a situation where consumers continue to drive vehicles insured by the Company in circumstances where their claims would be unlikely to be paid in full.

This notice supersedes all previous Company and third party communications.

Policyholders and brokers should continue to send correspondence on individual claims or other claims matters to the Setanta Insurance at:



Earlsfort Terrace

Dublin 2

Tel: 0818 255 255



Paul Mercieca


Setanta Insurance Company Limited (in liquidation)



Refund for the outstanding cover on my policy


Irrespective of whether the Policy cancellation was made by Setanta Insurance or the policyholder, Setanta Insurance is not in a position to guarantee pro rata return of premiums.


No claims bonus certificates


All no claim bonus certificates were issued to brokers.