The Insurance Board of Sri Lanka (IBSL) has suspended the registration of Insurex Insurance Brokers Co. (Pvt) Ltd. in respect of Long Term and General Insurance Business in terms of Sections 84 (1) (d) and 84 (1) (e) of the Regulation of Insurance Industry Act, 43 of 2000, for a period not exceeding three weeks with effect from 25th September 2009.

Accordingly Insurex Insurance Brokers Co. (Pvt) Ltd. is prohibited from issuing any new insurance policies in respect of Long Term and General Insurance Business, through insurance companies, until the suspension is removed and informed to Insurex Insurance Brokers Co. (Pvt) Ltd. by the IBSL. A renewal of an insurance policy in respect of General Insurance Business is considered as a new contract/new insurance policy.

However Insurex Insurance Brokers Co. (Pvt) Ltd. is required to ensure to fulfil its obligations under policies already issued.

Until the IBSL informs otherwise the suspension imposed hereby on Insurex Insurance Brokers Co. (Pvt) Ltd. remains unchanged till 16th October 2009.