Landmark Casualty & Indemnity, Ltd

A warning was issued to Landmark Casualty Indemnity, Ltd. for its contravention of: section 25(1)(b) of Insurance Act, 1994 by transferring, issuing and or redeeming shares without the prior written approval of Commission for the years 2008, 2009 and 1 January 2010; section 10 of the Insurance Act, 2008 as prescribed by section 130(b) of the Regulatory Code, 2009 by failing to maintain the minimum contributed capital applicable to a BVI insurer for the year 2010; and section 33 of the Insurance Act, 2008 by transferring its portfolio of business to another person without the prior written approval of the Commission in 2012.