Warning Letter - Occidental Life Insurance Company of North Carolina (2013-08-29)

Summary

This is a published enforcement notice from the BVI Financial Services Commission recording a warning letter issued to Occidental Life Insurance Company of North Carolina. The notice is a single enforcement summary entry appearing in the Commission's public alerts and enforcement action library, rather than a rule of general application.

• Entity: Occidental Life Insurance Company of North Carolina (Domestic Insurance licence type; Matter ID INS080213/127)
• Contravention: Failure to register as a foreign company with the Registrar of Corporate Affairs, in breach of section 186(1) of the BVI Business Companies Act, 2004
• Action taken: The Commission issued a warning letter to the company

The notice is purely informational and records a past enforcement action against a named entity. It does not create any new ongoing rule or filing requirement for the wider industry, though it signals the Commission's expectation that foreign companies conducting insurance business register as required under section 186(1).

Key obligations

• Foreign companies conducting business that falls within the scope of section 186(1) of the BVI Business Companies Act, 2004 must register as a foreign company with the Registrar of Corporate Affairs

Applies to

insurance companies, foreign companies operating in the BVI