Public Statement No. 17 of 2012

17 September, 2012

PUBLIC STATEMENT

GULF INSURANCE LIMITED

Tortola, British Virgin Islands – 17 September, 2012 – The British Virgin Islands Financial Services Commission (the “FSC”) issued a directive to Gulf Insurance Limited (“Gulf”) directing it to cease and desist from taking on new or renewal business in the Virgin Islands, and directing it not to accept transfers, remittances or payments of any kind from its intermediaries in the Virgin Islands.