Salvo Insurance Company Limited

A notice of revocation of licence was issued to Salvo Insurance Company Limited for its contraventions of: section 23(1) and 23(5) of the Insurance Act, 2008 for failing to appoint and at all times have an insurance manager; section 57(1) of the Insurance Act, 2008 for failing to prepare and submit its audited financial statements and director;s certificate for the financial year ended 31 December 2012 and 2013 to the Commission by the extended deadline of 30 September 2013 and statutory deadline of 30 June 2014 respectively; and section 2A(ii) of the Financial Services Commission (Fees) (Amendment) Regulations, 2010 for failing to submit payment to the Commission of the required annual licence fee for 2014.