BVI FSC issued public statement on Eleuthera Insurance Limited

The British Virgin Islands Financial Services Commission issued a public statement to protect the public interest and interests of customers and creditors of Eleuthera Insurance Limited, and to make the general public aware that this company is no longer licensed and regulated by the Commission.

Eleuthera Insurance Limited received a license from the Commission on 15 September 2010, to carry on general insurance business in medical malpractice liability. The license was revoked on 12 April 2017, as the company contravened some sections of the Financial Services Commission Act, 2001, having transferred part of its business to another entity without obtaining the prior approval from the FSC; also, the company failed to submit its audited financial statements and director’s certificate within 6 months of the end of the financial years 2014 and 2015, and failed to pay the required annual licence fee for the year 2016 by the due date.

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