Cooperative Insurance Company PLC removal of suspension – In view of corrective measures taken by the 9-member board of directors of Cooperative Insurance Company PLC, in compliance with the requirements in section 18 of the Regulation of Insurance Industry Act, No. 43 of 2000, the Commission, at its meeting held on 25th May 2023, has decided to remove the suspension imposed on the Company to carry on General Insurance business with effect from 26th May 2023.
Accordingly, the restriction placed on the Company to carry on insurance business during the period of suspension i.e. from 11th April 2023 to 25th May 2023 has been, thus removed.
