How is Ellipse regulated?
Ellipse is a trading style of AIG Life Limited. Registered in England and Wales. Number 6367921. Registered address: The AIG Building, 58 Fenchurch Street, London, EC3M 4AB.
AIG Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The registration number is 473752.
What this means in practice
The FCA’s remit covers the way in which we interact with our customers, especially how we market our products, treat our customers, address complaints and, if the worst happens, what compensation arrangements will be offered.
Financial Services Compensation Scheme
AIG participates in, and contributes to, the Financial Services Compensation Scheme (FSCS).
The FSCS is designed to provide compensation for individuals and, in certain circumstances, small businesses who undertake transactions with authorised firms that go out of business or are otherwise unable to meet their liabilities. The FSCS will determine the eligibility of claimants, but their definition of small businesses (having an annual turnover of less than £1 million) means that many of our clients will be too large to be eligible. For those that are eligible, the current compensation limit for insurance payments is 90% of the claim, with no upper limit.
If a trustee of an occupational pension scheme for a smaller company applies for compensation under the Scheme, the FSCS must treat the members or beneficiaries of any member as having the claim and not the trustee.