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West Bay Insurance Plc update

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Please see below updates relating to West Bay Insurance Plc:

  • An explanation regarding the change in name of Markerstudy Insurance Company Limited (MICL) and Zenith Insurance Plc (ZIP) to West Bay Insurance Plc
  • Confirmation of continuity of service, people and products
  • Change activities required, actions to be taken and applicable dates
  • Sources for further information regarding change activity
  • Questions & Answers


We would like to assure you, these changes do not affect the service we provide. Markerstudy Insurance Services Limited (MISL) will continue to provide all the services currently undertaken. This includes all underwriting, operational and claims services and as such, no changes to personnel are expected as a direct result of the insurer’s change of name to West Bay Insurance Plc.


Name change

Following our previous communications relating to the change of insurer name from Zenith Insurance Plc (ZIP) to West Bay Insurance Plc (WBIP) we can advise that the relevant approvals were granted, with the change taking place on the 23rd November 2021. 


Required change activity & key dates

Change activities and applicable dates requiring your attention ahead of 1st January 2022, the date on which Markerstudy Insurance Company Limited (MICL) and Zenith Insurance Plc (ZIP) needs to be changed to West Bay Insurance Plc.  Although the name is changing to West Bay Insurance Plc the insurer will remain in the ownership of QIC Europe Limited.


All products underwritten by MICL

  • From 1st January 2022, MICL is no longer underwriting the products and their name will no longer appear on your Software House system for new business risks. This will be replaced by either the name West Bay Insurance Plc or MISL.
  • All current MICL products and schemes will still be available to you, however from 1st January 2022 they will be underwritten by West Bay Insurance Plc.
  • There will need to be consideration for a 12 month run-off period to accommodate MTAs and cancellations on policies incepted on or prior to 31st December 2021. The insurer will need to remain as MICL until the policyholder’s next renewal that falls after this date.


All products underwritten by ZIP

  • All products currently underwritten by ZIP require a change of company name to West Bay Insurance Plc from 1st January 2022.
  • The ZIP registered company number and address is remaining the same, only the company name is changing to West Bay Insurance Plc.
  • Brokers as the insurance intermediary, you will need to remove all reference to Zenith Insurance Plc from any documentation issued by you.


Software Houses

Required changes to policy documents have been confirmed with each Software House (SWH), and to those brokers who operate bespoke systems.


The changes to policy documentation will be available through your Software House product suite in the normal way and all required SWH changes will be completed in time to allow for changes to take effect for policies due for renewal or incepting from 1st January 2022 and any subsequent MTA.


Product range and scheme names

There will not be any changes to our current product range with the change in insurer name. However, in time we anticipate opportunities to enhance our product portfolio.  


We are amending the name of all schemes that reference either MICL or ZIP in the title. 


The following naming convention as the principle guiding changes with software houses will be:

  • MICL schemes will change to MISL
  • ZIP or Zenith schemes will change to MISL  


Please direct queries relating to this to your Markerstudy Broker Manager or to


Frequently asked questions:


Q. Is West Bay a new and separate legal entity?

A: No, for Zenith Insurance Plc (ZIP) this is just a change in name only.

For Markerstudy Insurance Company Limited (MICL) all existing business with an inception/renewal date prior to 1st January 2022 will retain the MICL name until its next renewal date when it will be available in the name of West Bay Insurance Plc.

From 1st January 2022 effective date, all new business and renewals will be written under the West Bay Insurance Plc name.


Q: Where will underwriting decisions be made? Who is responsible for assessing risks and setting rates?

A: The same teams currently underwriting MICL and ZIP will continue to do so despite the insurers becoming West Bay Insurance Plc.


Q. Will my trading platform or Software House be affected?

A: Required changes to products and policy documents have been specified with each Software House and to brokers with bespoke trading platforms.  Your Software House will communicate these changes to you in advance of the commencement of trading under West Bay.


Q. Will my agency numbers change?

A: No, your existing agency numbers remain the same.


Q. What do we have to do from our side? 

A: If we have specifically asked you to make changes to policyholder documentation please ensure these are updated as instructed and implemented.  Please also ensure you notify your policyholders of these changes next time you contact them. Whether that is an MTA or renewal. 


Q. Will scheme names change?

A: Yes, all schemes with MICL and/or ZIP in the name will change to:

  • MICL Schemes will change to MISL
  • ZIP or Zenith schemes will change to MISL  


Q. Will there be any branding changes?

A: No, there will be no MISL logo or branding changes needed.



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