Public Statement 20 of 2021 - SUWANEE WARRANTY INSURANCE COMPANY, LTD. (2021-08-09)

Summary

This is a public statement from the BVI Financial Services Commission announcing the revocation of the insurance licence of Suwanee Warranty Insurance Company, Ltd., effective 1 April 2021. The statement is issued as a matter of public interest to inform market participants that the Company is no longer licensed or regulated by the FSC.

• Grounds for revocation: The Company failed to appoint and at all times maintain an insurance manager
• The Company failed to prepare and submit audited financial statements
• The Company failed to pay annual licence fees

The statement is purely informational, issued pursuant to Section 37A(1) of the FSC Act, and does not create ongoing obligations for other regulated entities; it serves as a public warning that this specific company is no longer authorised to conduct insurance business.

Applies to

insurance companies