Appointment of Controllers - Premier Assurance Group SPC Ltd

Re: Premier Assurance Group SPC Ltd. – Appointment of Controllers

The Cayman Monetary Regulatory Authority International (“the Authority”) informs the public that, effective 14 September 2020, it appointed Messrs. Jeffrey Stower and Jason Robinson (“the Controllers”) of KPMG Cayman Islands to assume control of the affairs of Premier Assurance Group SPC Ltd. (“Premier” or “the Company”) under section 24(2)(h) of the Insurance Law, 2010 (“the Law”). The Authority also deemed two of Premier’s directors, Jorge Eduardo Falcon and Leonardo Cornide, unfit to hold the position of director, pursuant to section 24(1)(g) of the Law.

Upon their appointment, the Controllers immediately took over the management of the Company's affairs, with full authority to administer its business, including the power to terminate the Company’s insurance operations. Their responsibilities also include assessing the financial status of the Company and preparing a comprehensive report for the Authority within a specified timeframe.

The public is encouraged to reach out to the Authority or the Controllers for further information regarding the status of Premier Assurance Group SPC Ltd. or any related inquiries.