Treatment of insurance claims

(1) In satisfaction from the assets of the tied assets under section 126(1) to (3), 1. the claims of the insured, beneficiaries, or injured third parties who have a direct claim against the insurance undertaking, and 2. claims for the repayment of premiums, where the insurance contract was not concluded, or was rescinded, before the opening of the insolvency proceedings, take priority, to the extent of their share of the tied assets under section 125(2), over the claims of all other insolvency creditors. In doing so, the holdings of the tied assets are taken into account only to the extent that the allocation to the tied assets is prescribed for them under section 125(1) and (2), section 126(3), and section 127.
(2) As between themselves, the claims preferred under subsection (1) rank equally.