Court Appoints Liquidator to Lemma Insurance Europe Ltd

Michelle Remo, “Big 4″ observer
October 03, 2012 /

The Supreme Court in Gibraltar has appointed Provisional Liquidators of Lemma Europe Insurance Company Ltd.

The Financial Services Compensation Scheme (FSCS) is currently in discussions with Grant Thornton who are the Provisional Liquidators and understands that the company’s payments to policyholders have been suspended whilst the Provisional Liquidators investigate the firm’s assets and liabilities.

FSCS said: “We appreciate that you may be concerned about your claim and any payment that might be due from Lemma, but, at this stage, we are unfortunately not in a position to discuss individual claims.

“However, Lemma was an FSA authorised firm, so that certain claims against the company may be protected by FSCS. We expect these to be certain UK risks of individuals or small businesses.”

Grant Thornton will be writing to all policyholders shortly. Policyholders will also be sent a fact sheet explaining the role of FSCS.

“We will update the position shortly,” FSCS added.


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