Regulatory Alerts2018-08-03
Guidance Note for Licensed Insurers on Change of Majority Shareholder Controller
The Guernsey Financial Services Commission requires licensed insurers to notify it in writing immediately upon becoming aware of any proposal for an existing shareholder controller to become a majority shareholder controller. A majority shareholder controller is defined as a person entitled to exercise or control 50% or more of the voting power in the company's general meetings. This guidance does not apply to cells of a Protected Cell Company and does not replace statutory controller notification requirements under the Insurance Business Law.
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