MADRID, 23 Nov. (EUROPA PRESS) -

The Ministry of Economic Affairs has granted Liberty Seguros administrative authorization for the transfer of its portfolio of death insurance contracts to Preventiva Compañía de Seguros y Reaseguros, according to the Official State Gazette (BOE).

Both companies submitted on May 27 the request for authorization for Liberty to assign to Preventiva a portfolio made up of all the policies subscribed in the funeral branch.

From the documentation that was attached to the application, Economía has concluded that the requirements established in article 89 of Law 20/2015, of July 14, on the organization, supervision and solvency of insurance and reinsurance companies have been met. , and in articles 99 and 100 of Royal Decree 1060/2015, of November 20, on the organization, supervision and solvency of insurance and reinsurance entities, to carry out the operation.

For this reason, at the proposal of the General Directorate of Insurance and Pension Funds, the Ministry of Economic Affairs has decided to authorize the total transfer of Liberty's death portfolio to Preventiva. Likewise, it has revoked the authorization granted to Liberty Seguros to operate in the funeral insurance business.