Gibraltar-headquartered LAMP Insurance Company Limited has asked the Supreme Court of Gibraltar to appoint an Official Receiver (OR) and place the firm into liquidation. The application will be heard at the end of the month.
According to the Gibraltar Financial Services Commission (GFSC), the insolvent insurance company has been unable to secure additional financing. It provided general insurance products to customers in Britain as well as in Europe and Asia.
Policyholders should be aware that while their policies are still valid, the firm is not in a position to pay claims, asserted GFSC in a statement. Policyholders should contact their broker, …
Read the full article at: https://www.insurancebusinessmag.com/uk/news/breaking-news/insolvent-insurance-company-asks-to-be-placed-into-liquidation-167791.aspx