GIBRALTAR – Gibraltar regulator says court will do ???whatever necessary??? to protect policyholders

Lemma Europe Insurance Company Ltd. has been placed into provisional liquidation in Gibraltar.

 

The Supreme Court of Gibraltar heard a petition for the appointment of a provisional liquidator and appointed Frederick David John White of Grant Thornton as provisional liquidator with immediate effect. 

 

A statement by the Gibraltar Financial Services Commission read: “On the 1st August 2012, the Financial Services Commission issued a direction, at the request of the board of directors of Lemma Europe Insurance Company Ltd that Lemma ceased to be authorized to issue new contracts of insurance.