Caribbean Insurers (Marine) Limited

A Directive was issued pursuant to section 40 (1) (b) of the Financial Services Commission Act, 2001 to Caribbean Insurers Limited and Caribbean Insurers (Marine) Limited requiring that: 1. With immediate effect, to cease and desist from accepting or binding any risks whatsoever, whether new or renewal in the Virgin Islands, through Lemma Europe Insurance Company Limited. 2. With immediate effect, to cease and desist from sending any remittances to Lemma Europe Insurance Company Limited. 3. On or before 31 October 2012, to transfer all Lemma Europe Insurance Company Limited policies issued by or through Caribbean Insurers Limited and Caribbean Insurers (Marine) Limited to another licensed insurer or other licensed insurers in the Virgin Islands.