Update on the liquidation of FWU Life Insurance Lux S.A. (FLL) – 10th July 2025
As a result of the insolvency of FWU Life Insurance Lux S.A. (FLL) and of FWU AG, FLL lost on 31 January 2025 access to its databases and IT systems as these were managed by FWU AG. With the loss of access to the IT systems FLL has also lost all possibility to communicate with clients on an individual basis.
The first order of business of the liquidation has therefore been to restore communication with clients on an individual basis, recreate a functioning IT system and restore client and insurance information and data from backups or from available data.
With the dedication of the FLL team in place to manage the liquidation, this has in the meantime been achieved.
The team has now been able to put in place communication lines by email, letter and phone. A multilingual hotline has been implemented to ensure access to clear information in French, English, German, Spanish, and Italian. The contact details are available at the webpage of the liquidation of FLL (www.fwulifelux.com). All local regulators have also been informed, and you can find the contact details also on their local webpages.
Please note: all prior email addresses with the domain @forwardyou.com are no longer active. Please use exclusively the domain @fwulifelux.com for future communications.
The team has in the meantime been able to respond to some 50.000 requests from clients.
A secure Customer Portal is currently under development with the objective of digitally centralizing all customer requests and communication. It aims to provide a direct and secure communication channel between the liquidation of FLL and its policyholders/beneficiaries. This platform will streamline the management of requests, enhance traceability, and improve the overall customer experience by ensuring faster and more transparent interactions.The platform is expected to go live by September 2025.
As required by the liquidation order of FLL of 31 January 2025, the team is doing its utmost to send to creditors a pre-filled claim form by the end of July 2025.
The loss of access to the IT systems and data has however caused significant delay in the calculation of the claim amounts, the production of some 250.000 claim forms and the shipment of these claim forms to the creditors.
We still expect to be able to start sending out pre filled claim forms by the end of July, but there may be some delays for certain creditors.
In particular, we expect a delay of up to 2 weeks for policyholders from France and Belgium. This is due to a corrupt backup file and the necessity to recreate the related insurance information.
We also expect a longer delay for creditors who have unit linked policies and have taken Court action delaying the liquidation of the underlying assets. Finally, ordinary creditors will not receive their pre-filled claim forms in the six months time period.
Please note that pre-filled claim forms will be sent out progressively over the next weeks and not every creditor will receive his/her claim form at the exact same time.
We expect that FLL’s realized assets will enable the reimbursement of a substantial part of the claims of the preferred creditors and in particular of policyholders/beneficiaries.
Together with the Luxembourg Court, we will endeavor to reimburse preferred creditors as quickly as possible. Please note however that due to the insolvency proceedings and the required checks and legal proceedings this reimbursement will take place in tranches and will take some time to be processed. 250.000 claim forms will need to be checked and verified. It is therefore important that preferred creditors follow the instructions on the pre-filled claim forms and attach the requested documentation.
While we acknowledge that creditors would prefer to be reimbursed immediately, please understand that Court supervised proceedings and insolvency proceedings in particular do take time. We still provide our utmost efforts that all creditors can be reimbursed as quickly as possible within the restraints of the insolvency proceedings while abiding by insolvency rules, insuring f.i. equal treatment of creditors in the same position.
As per the liquidation order of 31 January 2025, the effects of the insurance contracts have ceased. While the liquidator is under no obligation to provide tax certificates to policyholders/beneficiaries, we still aim to make those certificates available through the Customer Portal.
There will be a separate communication in relation to insurance contracts that provided tax advantages.
We have also undertaken steps to reduce the cost of the liquidation and have f.i. decided to relocate the Luxembourg office to lower cost premises, reducing overhead expenses by over 50%. Similar optimizations were carried out in Italy and Spain. Offices in Germany and France were closed due to their high fixed costs and limited activity. We have however maintained teams in Spain and Italy to ensure local support for policyholders and beneficiaries.
For reasons of cost and efficiency we encourage policyholders to communicate by e-mail or the Customer Portal once it is operational.
We would like to thank the Luxembourg regulator (CAA) for being available to discuss open issues and generally assist the liquidation and creditors of the liquidation. It is thanks to the actions taken by the Luxembourg regulator and the Court that the assets of FLL have been safeguarded and that a substantial part of the claims of policyholders/beneficiaries can be reimbursed. This is generally not the case in insolvency proceedings.
The liquidator has also initiated investigations into possible causes of criminal activity and/or civil liabilities of involved parties.
The liquidation team of FWU Life Insurance Lux S.A. (FLL)
Notice to Preferential Creditors
As part of the liquidation process, a communication — including a pre-filled claim form — will be sent to all known preferential creditors in the coming weeks. Production will commence at the beginning of July. To ensure accurate delivery, please update your contact details no later than June 30. While we will make every effort to incorporate any changes received after this date, their inclusion cannot be guaranteed.
LIQUIDATION (extract)
By Court order of 31 January 2025, the Luxembourg district Court, 2nd chamber, sitting in commercial matters, declared the company FWU Life Insurance Lux s.a., with registered office at L-5826 Hesperange, 33, rue de Gasperich, in liquidation.
The same Court order appointed Mrs Anick Wolff as Supervisory Judge and Me Yann Baden as liquidator, and set the date of cessation of payments at 22 July 2024.
It renders applicable the articles 248 et seq. of the amended law of 7 December 2015 regarding the insurance sector, articles 1100-1, 1100-4, 1100-6, 1100-8 and 1100-13 of the amended law of 10 August 1915 regarding commercial companies, as well as articles 444, 445, 446, 447, 448, 449, 450, 451, 452, 453, 454, 462, 463, 464, 485, 487, 492, 528, 537, 538, 539, 540, 542, 543, 544, 547, 548, 549, 550, 551, 552, 561, 562, 567-1 of the Code of Commerce relating to the title “Bankruptcy”.
The interest rate on any debt not secured by a lien, pledge or mortgage is stopped.
Set-off is prohibited except in the following cases : existence of interconnected debts (créances connexes) or application of the provisions of the law of 5 August 2005 on financial guarantees.
Within six months of the Court order, the liquidator shall send to any creditor known or identifiable from the company’s books, a note as provided for in article 252 of the amended law of 7 December 2015, together with a pre-filled statement of claim.
Claims shall be filed with the liquidator in accordance with article 252 (4), (5) and (6) of the same law.
The deadline by which creditors must send their claims to the liquidator is set at 31 January 2028, failing which they will be barred from exercising their rights.
Claims will be verified by the liquidator.
The lists with the claims periodically declared admissible will be deposited at the office of the clerc of the Luxembourg district Court, 2nd chamber, during the first ten days of January, April, July and October, where the declared creditors and those entered on the balance sheet may inspect them. During this period, the same persons may lodge objections to claims entered on the lists.
The objection is lodged by a declaration at the court’s clerc. The objection must be reiterated within three days by registered letter addressed to the liquidator, failing which the objection shall be declared inadmissible. It must contain, under penalty of inadmissibility, the exact qualities of the person lodging the objection, proof of his status as a declared creditor or a creditor entered on the balance sheet, the grounds of objection and supporting documentation.
The admissibility and merits of the objection are summarily checked by the liquidator.
After the expiry of a ten-day period for lodging an objection, the claims declared admissible and not objected to are definitively admitted through minutes signed by the liquidator and the Supervisory Judge.
The liquidator shall duly inform creditors whose claims have been rejected or are the subject of an objection, of the rejection of their claim or of the existence of an objection, by registered letter to the address indicated in the statement of claim or to their last known address.
If these creditors fail to proceed by way of a writ of summons (assignation) within a period of 40 (forty) days from the date of posting of this registered letter, the statement of claim in question shall be deemed to have been definitively rejected.
Objections (oppositon) against Court orders ruling on disputes and counterclaims are inadmissible.
The liquidator will apply to the Court by filing a request for authorisation to distribute dividends. The Court order setting the closing date for the accounts will be published in extracts.
The announced dividend needs to be paid within four months of the closing date for the accounts.
Interest shall not be paid to creditors whose claims have not been definitively admitted and who have received payment of one or more dividends after other creditors, provided that and only to the extent that this time difference is due to the normal course of the liquidation operations.
In addition, interest is not payable to creditors whose claims have been definitively admitted but whose payments are made with a certain time delay between the date of the Court order authorising the payment of interim dividends and the actual payment, whether this delay is due to creditors who have not provided the liquidator with the information necessary for the actual payment, to a legal obstacle or to a difficulty identifying creditors.
During the liquidation proceedings, any dividends not distributed must be retained by the liquidator and earn interest for the benefit of the creditors.
certified excerpt
the liquidator
Yann Baden
Notice to customers in France, Germany, and Austria
By order dated January 31, 2025, the District Court of Luxembourg ordered the dissolution and liquidation of FWU Life Insurance Lux S.A. (in liquidation) Within six months of the judgment, the liquidator, Maître Yann Baden, will send a pre-filled claim form to all known creditors.
In order to ensure that the claim form is sent to customers quickly and cost-effectively, FWU Life Insurance Lux S.A. asks all customers in France, Germany, and Austria to check their contact details and (if they have not already done so) to provide their email address.
A form for providing your email address and other changes to your contact details is available on the website www.fwulifelux.com in the “Service & Forms” section. If you have any questions, please contact FWU Life Insurance Lux S.A. (in liquidation) on the new phone number 00352 26 26 11 11.
Aufruf an Kunden in Frankreich, Deutschland und Österreich
Mit Beschluss vom 31. Januar 2025 hat das Bezirksgericht von und zu Luxemburg die Auflösung und Liquidation der Gesellschaft FWU Life Insurance Lux S.A. (in liquidation) angeordnet. Innerhalb von sechs Monaten nach dem Urteil wird der Liquidator Maître Yann Baden allen bekannten Gläubigern eine vorausgefüllte Forderungsanmeldung zukommen lassen.
Um eine schnelle Zusendung der Forderungsanmeldung und Kommunikation mit den Kunden zu ermöglichen, bittet die FWU Life Insurance Lux S.A. (in liquidation) alle Kunden in Frankreich, Deutschland und Österreich, ihre Kontaktdaten zu überprüfen und (sofern noch nicht geschehen) Ihre E-Mail-Adresse mit dem hierfür vorgesehenen Formular mitzuteilen.
Das Formular ist auf der Website www.fwulifelux.com im Bereich „Service & Formulare“ eingestellt.
Bei Rückfragen erreichen Kunden die FWU Life Insurance Lux S.A. unter der neuen Rufnumer 00352 26 26 11 11