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Creque's Insurance Agency Limited

Enforcement Action
Industry Type:
Enforcement Action:
Enforcement Summary:
A Directive was issued pursuant to section 40 (1) (a) of the Financial Services Commission Act, 2001 to Creque’s Insurance Agency Limited* requiring that it: 1. With immediate effect, to cease and desist from accepting or binding any risks whatsoever, whether new or renewal, in the Virgin Islands through Gulf Insurance Limited. 2. On or before 31 August 2012, to transfer all Gulf Insurance Limited policies issued by Creque’s Insurance to another licensed insurer in the Virgin Islands. 3. With immediate effect, to cease and desist from sending any remittances to Gulf Insurance Limited. *Note: An Order has been issued by the Eastern Caribbean Supreme Court, in the High Court of the Virgin Islands imposing a stay on the transfer of policies by Creque’s Insurance Agency Limited pursuant to the Directive issued to Creque’s Insurance Agency Limited.
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