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Operating licence of the European Risk Insurance Company hf. withdrawn

Operating licence of the European Risk Insurance Company hf. withdrawn

NOTE: This article is from 12. February 2014 and is therefore more than 5 years old.

The Financial Supervisory Authority has withdrawn the operating licence issued to the European Risk Insurance Company hf. (ERIC), Reg. No. 661103-2210, as the company no longer complies with the provisions of Act No. 56/2010 on insurance activity with regards to minimum solvency requirements and has surrendered its licence to operate as an insurance company, as provided in the first paragraph of Article 90 of the cited Act.

The revocation of ERIC's licence is effective as of 12 February 2014.

The Financial Supervisory Authority has appointed a three person Resolution Board, according to Article 91 of the Act on Insurance Activities, which comprises of the following persons:

David A. Einarsson, Chartered Accountant

Erla S. Arnadottir, Supreme Court Attorney

Pall Johannesson, District Court Attorney

THE FINANCIAL SUPERVISORY AUTHORITY