Public Statement RE: Southern National Insurance Company Ltd
TAKE NOTICE that effective 11 March 2022 Southern National Insurance Company Ltd (“Southern”) is restricted from writing any new insurance business in or from the TCI until further notice.
The restriction on writing new business was made by Directive issued pursuant to section 37 of the Financial Services Commission Ordinance (FSCO) due to Southern’s failure to submit information as directed pursuant to section 37 of the FSCO.
A Penalty Notice was also issued against Southern for its failure to comply with section 12(1) of the Insurance Ordinance.
If you have entered into a new insurance agreement with Southern after 11th March 2022, please contact the Commission immediately. The Commission can be contacted at Tel: (649) 946-5314/2791 or firstname.lastname@example.org to make a report or to obtain additional information or clarification on this notice.
The public is advised to note and be guided accordingly.
Turks and Caicos Islands
Financial Services Commission