The Commission Issues Advisory Warning on three Insurance Companies

On March 24 2009, Advisory Warning No. 2 of the year 2009 was published by the British Virgin Islands Financial Services Commission. By issuing this document, the Commission informed the public that Colonial Life Insurance Company (Trinidad) Limited, British American Insurance Company Limited and the CL Financial Limited are not licensed to carry on financial services business in or from the territory of the British Virgin Islands.

The Commission also asked the public to inform them of the facts when they at any time had any transactions with the above-mentioned companies, or purchased any kinds of financial products from them, including insurance or investment type products.