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Castlegate Insurance Company Ltd.
Enforcement Action
Enforcement Action:
Enforcement Summary:
A notice of revocation of licence was issued to Castlegate Insurance Company Ltd. for its contraventions of:
section 21(3) of the Insurance Act, 2008 by transferring shares without obtaining the Commission;s prior written approval;
section 23(1) and 23(6) of the Insurance Act, 2008 by failing to appoint and at all times have an insurance manager; and
section 184 of the BVI Business Companies Act, 2004 by failing to undergo the process of discontinuation from the Virgin Islands.
Matter ID:
BF101113/205
