Consorcio has been entrusted the function of protection of creditors by insurance contract (insured persons, beneficiaries and third parties) in case the regulator orders the liquidation of an insolvent insurance company, or the own company voluntarily asks for its dissolution.
TERMS AND CONDITIONS FOR PARTICIPATING IN THE TENDER PROCESS FOR THE TRANSFER OF THE INSURANCE CONTRACT PORTFOLIO OF THE ENTITY ‘HELLO INSURANCE GROUP, COMPAÑÍA DE SEGUROS, S.A., IN LIQUIDATION PROCESS’.
By Order ECM/829/2025, of 24 July 2025, BOE No. 184 (Spanish Official Gazette), of 1 August, at the proposal of the Directorate General of Insurance and Pension Funds, the administrative authorisation for the exercise of insurance activity was revoked from the entity HELLO INSURANCE GROUP, COMPAÑÍA DE SEGUROS, S.A., IN LIQUIDATION, hereinafter HELLO INSURANCE, was revoked, agreeing to its dissolution and entrusting its liquidation to Consorcio de Compensación de Seguros.
PHASES AND DEADLINES OF A LIQUIDATING PROCESS
Find out the phases and deadlines to which a liquidating process of an insurance company is subjected.
WHAT IS THE PURCHASE OF CREDITS AND HOW DOES IT AFFECT YOU?
In this section we will explain what it is and how the purchase of credits will affect you.
STATUS OF THE LIQUIDATING PROCESS OF AN INSURANCE COMPANY
If an insurance company is undergoing a liquidation process, the status of this process may be consulted here.
For any queries, do not hesitate to telephone our Call Centre
If you have a motor vehicle insurance policy with a company that has entered into liquidation
You should also know that the Consorcio covers up to the legal limit of the Compulsory insurance in force on the date when the claim occurred.
The rest of the amount not covered by the Compulsory Insurance for Motor Vehicles will be the amount that the CCS itself in its liquidating function will take into consideration in the liquidation and therefore it will offer, at the approved percentage, the acquisition of your credit.
