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ARNOLD CLARK AUTOMOBILES LTD
General

[Notice to be issued by ARNOLD CLARK INSURANCE (MALTA) LIMITED]

Notice ID: GL1410883

Notice effective from
17th April 2019 to 17th May 2019

[Notice to be issued by ARNOLD CLARK INSURANCE (MALTA) LIMITED]

Notice of Cessation of Business


This notice is issued pursuant to article 39 of the Insurance Business Act, (Cap 403 of the Laws of Malta) (“the Act”) and its purpose is to give publicity to the fact that, on 20 September 2018, Arnold Clark Insurance (Malta) Limited (C 40522) of The Landmark, Level 1 Suite 2, Triq L-Iljun, Qormi QRM 3800, Malta, (Tel:+356 2248 9119; Fax:+ 356 2248 9106; email: aciml@arnoldclark.com) an insurance undertaking registered in Malta and authorised under the Act, notified the Malta Financial Services Authority (“MFSA”) of its intent to cease carrying on new and renewal contracts of general business of insurance.

Arnold Clark Insurance (Malta) Limited has proposed to cease to carry on new and renewal insurance business in respect of general business of insurance class 16 with effect from 21 March 2019, to which proposal the MFSA has confirmed its no objection, subject to a number of conditions. Arnold Clark Insurance (Malta) Limited shall continue to discharge its obligations under the Act and, until its obligations are fully discharged, it shall continue to be governed by the Act and shall be regulated and supervised by the MFSA until such date.

Arnold Clark Insurance (Malta) Limited has also proposed to cease wholly to carry on the business of insurance in respect of general business of insurance, class 1, 2, 3, 8, 9, 10 and 13, in respect of which classes of business the last policy of insurance expired on 31 December 2016.

We wish to emphasise that the rights and obligations of the insured parties under the Vehicle Replacement Insurance policies entered into by Arnold Clark Insurance (Malta) Limited which are in force as at 21 March 2019 will not be altered in any way.

Artex Risk Solutions (Malta) Limited of The Landmark, Level 1 Suite 2, Triq L-Iljun, Qormi QRM 3800, Malta (Tel:+356 2248 9100; Fax:+ 356 2248 9106; email: aciml@arnoldclark.com) will be appointed under Article 39 of the Act as the person responsible for the run-off following 21 March 2019.

Any further information shall be supplied upon request.

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