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Setanta Insurance Company Limited (In Liquidation)

On 30 January 2018, The Minister for Finance announced that he has agreed in principle that the State will ensure that Setanta third party claimants are compensated in full.  Whilst no details were announced regarding the arrangements for the payment of the additional compensation, the liquidator has been informed by the Department of Finance  that subject to clarification of any legal or competition issues, it is proposed that the payment of the additional 35% compensation due to third party Setanta Insurance claimants will be made from the Insurance Compensation Fund.  This, in turn, will require legislation to be enacted prior to full compensation being paid.  This will most likely be addressed through the insertion of an additional provision to the Insurance (Amendment) Bill currently being drafted, but this cannot yet be confirmed.


The liquidator welcomes this announcement as it will allow insurance claimants to be fully compensated and removes the potential exposure of former policyholders to claims of Setanta Insurance Company Ltd.  The liquidator will update the website as soon as the arrangements for compensation are clarified.


On 25 May 2017 the Supreme Court allowed the Motor Insurer's Bureau of Ireland's Appeal in the Law Society proceeding and set aside the Declaration made in the Court of Appeal. As a result, the Liquidator, in conjunction with the Accountant of the Courts of Justice, was able to make an application to the President of the High Court for compensation to be paid under the Insurance Compensation Fund (ICF) on 24th July 2017 for those claims that had been settled or ruled by the courts. 

Applications to the ICF can only be made every six months. Accordingly, the Liquidator is most anxious that urgent efforts are now made to bring as many of the outstanding Setanta 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 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.


However, until the proposed legislative changes have been implemented, each eligible claim for compensation from the ICF will be continue to be limited to a payment of 65% of the claim or €825,000 whichever is less.

The liquidator anticipates that a proportion of the balance of these claims will be met from the proceeds of the distribution of Setanta’s assets at the conclusion of the liquidation.


Please note that the Supreme Court ruling and the above statement 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’s assets at the conclusion of the liquidation.


Meeting of the Creditors

In accordance with Article 296 of the Companies Act, Chapter 386 of the Laws of Malta of a meeting the creditors of the Company took place on Friday 22nd September 2017 at Office 4, Verdala Business Centre, Level 1, LM Complex, Brewery Street, Mriehel, Birkirkara BKR 3000 at 11.00 hrs local time.

Please click here for a summary of the minutes of the meeting



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, 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.


A claim can be based on:


Ø  A court order


Ø  An injuries board order to pay


Ø  A settlement agreement between the claimant and Setanta


How to make a claim if you have not previously notified Setanta

The first step is to notify Setanta's liquidator of the claim.  Setanta's liquidator is tasked with the orderly liquidation of Setanta and is required to identify all liabilities of Setanta.

Contact details are as follows:

The Liquidator
Setanta Insurance Company Ltd (In Liquidation)
c/o Deloitte
Earlsfort Terrace
Dublin 2

Tel: 0818 255 255

Once notified of a claim, Setanta's Liquidator will proceed to validate whether the claim: 


Ø  Is covered by a valid insurance policy issued by Setanta, and


Ø  Is finalised as a result of (i) a Court order; or (ii) an Injuries Board Order to Pay; or (iii) a settlement agreement being in place.



Notice to Policyholders


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

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

I believe this to be 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 supercedes all previous Company and third party communications.

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



Earlsfort Terrace

Dublin 2

Tel: 0818 255 255



Paul Mercieca,


Setanta Insurance Company Limited (in liquidation)





1. As a former policyholder, do I need to take any action now that the company is in liquidation?


As all Setanta Insurance policies have now been cancelled, you should ensure you have arranged alternative cover with your broker immediately. Your Setanta Insurance disc and Certificate should be returned to your broker.


The Liquidator of Setanta Insurance wrote to all policyholders on 19th May informing them of his intention to cancel all motor policies issued by Setanta Insurance in accordance with the cancellation periods set out in the terms and conditions of policies.


All remaining private vehicle insurance policies were cancelled by the liquidator on 26th May and all Commercial vehicle policies were cancelled on 29th May.



2. Will I receive a refund for the outstanding cover on my policy?


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



3. Where can I get a copy of my no claims bonus certificate?


All no claim bonus certificates have now been sent to brokers.



4. How do I make a claim?


Please complete the relevant claim form and return to the address above.