Blue Swan Insurance (Jersey) Limited (2009-03-18)

Summary

This is a public statement issued by the Jersey Financial Services Commission under Article 43(2) of the Insurance Business (Jersey) Law 1996 concerning the liquidation of Blue Swan Insurance (Jersey) Limited. It updates policyholders with unpaid claims and other creditors on the status of the winding up, following earlier statements issued in 2006 about the company's closure to new business and the Royal Court appointment of Ernst and Young as liquidators.

• Liquidation outcome: The liquidators have completed their work and found that no money is available to make payments to creditors of Blue Swan Insurance (Jersey) Limited.
• Next step: The liquidators intend to apply to the Royal Court for an order dissolving the company under Article 155 of the Companies (Jersey) Law 1991.

The statement is purely informational, updating affected policyholders and creditors on the insolvent company's status; it does not impose any new ongoing compliance obligations on regulated entities.

Applies to

policyholders and creditors of Blue Swan Insurance (Jersey) Limited