Public Statement - IAI Underwriting Ltd (2012-06-27)

Summary

This is Public Statement No. 8 of 2012, issued by the BVI Financial Services Commission concerning IAI Underwriting Ltd, a company that held an Insurance Captive licence. The statement was published to warn the public, customers and creditors that the company is no longer licensed or regulated by the Commission and remains subject to outstanding enforcement action.

• Entity named: IAI Underwriting Ltd, formerly holding an Insurance Captive licence
• Purpose: To protect the public interest and the interests of the company's customers and creditors by making clear the company is unlicensed and unregulated
• Status: Company is no longer licensed or regulated by the Commission; enforcement action (Matter ID ENF0511/070) remains outstanding

This is a purely informational enforcement notice rather than a rule imposing new compliance duties on the wider industry. It serves as a warning to the public and to persons who may deal with this specific company, not as a source of ongoing regulatory obligations for licensees generally.

Applies to

Insurance captive licensees, IAI Underwriting Ltd