Posted on October 19, 2012 15:43
Public Statement No. 18 of 2012
23 October, 2012
Greater Tri-State Casualty Company Limited
Tortola, British Virgin Islands – 23 October, 2012 – The British Virgin Islands Financial Services Commission (the “FSC”) considers it necessary to issue this public statement in order to protect the public interest and the interests of any of the customers and creditors of Greater Tri-State Casualty Company Limited (the “Company”), and to make the general public aware that the Company is no longer licensed or regulated by the FSC and could be carrying on unauthorised financial services business.
The details are:
The Company was formerly licensed by the FSC to carry on insurance business as a general insurer writing Mechanical Warranty insurance from within the Territory, having been so licensed on 2 April, 1993.
On 31 March, 2010, the Company’s licence expired and was never renewed or replaced under the provisions of the Insurance Act, 2008.
Accordingly, the Company is now no longer licensed or regulated by the FSC.
The FSC will provide an update on any further developments in this matter.
The FSC has issued this public statement pursuant to Section 37A (1) of the Financial Services Commission Act, 2001.