Key Facts

Broker Information

Marnix Europe Limited is an independent Lloyd’s broker registration number 1963 MRX. We are authorised and regulated by the Financial Conduct Authority. Our permitted business is arranging General Insurance / Reinsurance contracts. Our FCA register number is 307341 these details can be checked on the FCA’s Register by visiting the FCA’s website or by contacting the FCA on 0845 606 1234.

We are required to comply with the FCA Regulations relevant to an insurance intermediary. These include the following:

Please read this document carefully. It sets out the terms on which we agree to act for our clients and contains details of our regulatory and statutory responsibilities.

We specifically draw your attention to the following sections:

(a) Statutory trust client accounts.
(b) Segregation of client money.
(c) Interest on client money.

Please contact us immediately if there is anything in these terms of business which you do not understand or with which you disagree.



As independent insurance intermediaries we act as the agent of our client. We are subject to the law of agency, which imposes various duties on us. However, in certain circumstances we may act for and owe duties of care to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflict of interest.

We are affiliated to Marnix Corporation Tokyo and they hold 80% of our share capital.
We are affiliated to Marubeni Europe PLC and they hold 20% of our share capital.
We offer products from a range of different insurers; a list of these insurers is available on request

We will advise and make a recommendation for you after we have assessed your needs. This will include the type of cover you seek together with the costs. Upon receipt of your instructions we will place insurance with insurers, and keep you informed of the progress of our negotiations. We will advise you of any inability to place your insurance

Our ultimate parent company, Marubeni Corporation may from time to time make investments in Insurance and reinsurance companies with which we have a trading relationship. We are happy to disclose these entities upon request.



We do not guarantee the solvency of any insurer we place business with. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent.


Policy Documentation

Our policy is that policy documentation which will be issued in a timely manner; this would normally be within 30 days of the contract of insurance being concluded.

Your policy documentation will confirm the basis of the cover, give details of the insurers, and be accompanied by a policy summary and a debit note or premium billing. The dates that the premium is due, together with any penalties, will be clearly shown.

Prior to the conclusion of the contract you will be given a statement of demands and needs. You should read this carefully. It will set out your demands and needs and confirm whether the contract has been personally recommended and, if so, the reasons for making that recommendation. You will be provided with renewal terms in a durable medium in good time before expiry of the policy to enable you to make an informed decision for renewing the policy, or notified that renewal is not being invited. Attached to the renewal terms will be a statement of any changes to the terms of the policy, and changes to directive-required information (information required under the EU Directives), statement of price and information about cancellation.

You will be given an explanation of any changes, where necessary and in good time, which may appear in your policy and you will be advised of your right to request a new policy statement if renewal is not being offered, you will be notified in good time before the expiry of the policy.

Mid-term changes to your policy will be provided in good time, prior to the change taking effect.

It is our policy to retain documents for business effected on your behalf in electronic or paper format for up to 5 years. For some types of insurance cover it is possible that a claim may be made under a policy long after its expiry date and it is therefore important you keep such documents safely.



You must notify us as soon as possible of a claim or circumstances which may give rise to a claim.

In the event of a claim you should contact our Claims Handler (Tele 020 7826 8855)

Claims payments would normally be remitted to you directly from the insurers as soon as possible. We will provide you with every assistance in submitting a claim and seeking to obtain reimbursement for you. However in the event that an insurer becomes insolvent or delays making settlement we do not accept liability for any unpaid amounts.


Duty of Disclosure to Insurers

You must disclose to insurers, before the contract is concluded, any fact or circumstance which is known to you (or which ought to be known to you) in the ordinary course of your business and which is material to the risk. A fact or circumstance is material if it would influence the judgement of a prudent insurer in fixing the premium or determining whether he would take the risk. Should you not act with the utmost good faith or fail to disclose any material fact or circumstance to insurers, insurers may avoid the contract.



You must provide the premium due in cleared funds in accordance with the amounts and payment dates specified in our invoice. Failure to meet the payment date may lead to insurers cancelling your policy.

Where insurers have specified that the premium must be received by a certain date, failure to comply can result in the automatic termination of your insurance contract.



A full statement of our fees is attached to this letter. Anything which is not a premium is considered to be a fee. Any commission which is due is payable out of the premium. Our remuneration may be as a fee, or as brokerage, which is a percentage of the insurance premium paid by you and allowed by the insurer with whom the insurance in placed. Brokerage and fees are earned for the policy period and we will be entitled to retain all fees and brokerage in respect of the full policy period in relation to policies placed by us. In the event of a mid-term adjustment we will be entitled to adjust our brokerage accordingly.

In addition to client fees and/or brokerage payments we may receive remuneration by way of administrative fees or commissions for services proved to underwriters. We may also act as reinsurance brokers to underwriters with whom we have placed insurance or reinsurance.


Client Money

Client money is money of any currency that we receive and hold in the course of carrying on insurance mediation on behalf of our clients (including you) or which we treat as client money in accordance with the client money rules. A copy of these rules is available on request.

Client money may be co-mingled with the brokers other client money and will be held in one of the following ways:

a) It can be subject to a statutory trust
b) It can be subject to a non-statutory trust
c) In accordance with the FCA client assets sourcebook (CASS)

Client money will only be held on behalf of an insurer or underwriter in accordance with a written agency agreement. You will be notified if this should happen

Statutory Trust Client Account

The aim of the trust is to protect the client in the event of the failure of the firm, or the failure of the bank or a third party at which the money may be held. In such a circumstance, the firm’s general creditors should not be able to make claims on client money as it will not form part of this firm’s property.

The fact that we will hold money on trust gives rise to fiduciary duties which will be owed to you until the client money reaches the insurer or product provider.
We hold client money subject to a statutory trust. This means that we are not entitled to and may not use client money held on behalf of one client to pay another client’s premium before the premium is received from that other client, and not to pay premium refunds to another client before we receive payment from the insurer. We are not entitled to use client money to pay commissions before we receive the relevant premium form the client.


Segregation of Designated Investments

We keep client money separate from our own money. We may do this by paying it into a client trust bank account. We will not use your money in any designated investments.


Interest on client money

Any interest earned on client money held by us will be retained by us for our own use.


Payment to third parties

We may transfer client money to another person, such as another broker or settlement agent for the purpose of effecting a transaction on your behalf through that person.

This may include brokers and settlement agents outside the UK. The legal and regulatory regime applying to a broker or settlement agent outside the UK may be different from that of the UK and in the event of a failure of the broker or settlement agent, this money may be treated in a different manner from that which would apply if the money were held by a broker or settlement agent in the UK.

You may notify us if you do not wish your money to be passed to a person in a particular jurisdiction.


Bank Accounts

Client money will be deposited with one or more approved banks, a list of which can be provided to you upon request. Please notify us immediately if you do not wish us to use any bank or banks on this list.


Cancellation Clause

Your insurance contract may include a cancellation clause. In the event that you fail to pay your premium by the due date the insurance may be cancelled forthwith or by insurers giving notice of the cancellation. In the event of cancellation of the insurance contract, insurers may return a pro rata premium to us. Once our remuneration has been earned, in the event that the insurance is cancelled after inception, our fees or brokerage will not usually be returnable.


Cancellation of this Agreement

Our agreement may be terminated by one of us giving not less than 30 days’ notice in writing to the other. In the event that our services are terminated by you we will be entitled to receive any fees or brokerage payable.



We take all complaints seriously. If you wish to register a complaint then please contact our Complaints Officer, either:

In writing at Marnix Europe Ltd, 95 Gresham Street, London EC2V 7AB
By telephone: 020 7826 8671
We will acknowledge your complaint within 5 days
If we are unable to settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at

The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR

Tel: 020 7964 1000 (switchboard)



We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the FSCS if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Full details and further information on the scheme are available from the FSCS.


Proceeds of Crime Act, Money Laundering Regulations 2007 / UK Bribery Act 2010

UK money laundering regulations require us to obtain evidence of the identity of clients for whom we act at the start of a business relationship. This might, for example be evidenced by sight of a current signed passport and two utility bills/bank. For companies (other than listed ones) evidence of identity will usually comprise a copy of certificate of incorporation, a list of directors, a list of shareholders and the registered address.

We are obliged to report to the Serious Organised Crime Agency any evidence or suspicion of money laundering at the first opportunity and we are prohibited from disclosing any such report. Claims payment will be made in favour of you. If you require a payment to be made to a third party then you must confirm the required payee name and details and provide a brief explanation for your request.

We treat bribery very seriously and are guided by all sections of the Bribery Act 2010


Using Personal Information

We may collect and use relevant information about you to provide you with your insurance cover or the insurance cover that benefits you and to meet our legal obligations.

This information may include details such as your name, address and contact details and any other information that we collect about you in connection with the insurance cover from which you benefit. This information may include more sensitive details such as information about your health and any criminal convictions you may have.

In certain circumstances, we may need your consent to process certain categories of information about you (including sensitive details such as information about your health and any criminal convictions you may have). Where we need your consent, we will ask you for it separately. You do not have to give your consent and you may withdraw your consent at any time. However, if you do not give your consent, or you withdraw your consent, this may affect our ability to provide the insurance cover from which you benefit and may prevent us from providing cover for you or handling your claims.

The way insurance works means that your information may be shared with, and used by, a number of third parties in the insurance sector for example, insurers, agents or brokers, reinsurers, loss adjusters, sub-contractors, regulators, law enforcement agencies, fraud and crime prevention and detection agencies and compulsory insurance databases. We will only disclose your personal information in connection with the insurance cover that we provide and to the extent required or permitted by law.

Other people’s details you provide to us

Where you provide us or your agent or broker with details about other people, you must provide this notice to them.

Contacting us and your rights

You have rights in relation to the information we hold about you, including the right to access your information. If you wish to exercise your rights, discuss how we use your information or request a copy of our full privacy notice(s), please visit our website or contact us:

Marnix Europe Limited;
95 Gresham Street,

Tel: +44 207 826 8693
Fax: +44 207 826 8695


Law and Jurisdiction

These terms of business shall be governed by and construed in accordance with English law. In relation to any legal action or proceedings arising out of or in connection with these terms of business we both irrevocably submit to the nonexclusive jurisdiction of England and Wales.


Limitation of Liability

To the extent permissible under applicable laws, regulations or rules, our liability to you in respect of all losses however caused, including arising as a result of breach of contract or statutory duty, negligence or any other act or omission or breach of duty shall be limited to £10 million, or such other amount in US $ or any other currency that is specifically agreed with you in writing.

We shall not be liable to you, whether as a result of breach of contract or statutory duty, negligence or any other act or omission or breach of duty, for any loss of profit or any special, indirect or consequential losses arising under or in connection with the services provided.

You agree that we have a legitimate interest in limiting the exposure of our and our directors, officers and employees to litigation and that you will not bring or assist in bringing any claim against any of our directors, officers or employees in their personal capacity arising out of or in connection with the services provided. The limitations of liability and exclusions contained in this section shall not apply to: any losses or liabilities arising as a result of (a) fraud, wilful default or gross negligence by us or any of our Affiliates; or (b) death or personal injury, in each case in jurisdictions where such limitations or exclusions would not be permitted under applicable laws, regulations or rules; or any of our losses or liabilities to the extent that the limitation or exclusion of such losses or liabilities would not otherwise be permissible under applicable laws, regulations or rules. For the avoidance of doubt this section shall be for the benefit of ourselves and our affiliates and any of our or their respective directors, officers, employees or consultants involved in the provision of the Services. Any such person shall be entitled to rely upon and enforce its terms.