Menu Home

OFSI amends two General Licences

OFSI amends two General Licences 

OFSI has amended General Licence INT/2022/2009156. This licence allows UK designated persons to make certain permitted payments to UK insurers from a frozen bank account, and allows UK insurers to receive these payments. The licence applies to all UK autonomous sanctions regimes. 

General Licence INT 2022/2009156 has been amended to include within permitted payments:

  • Terrorism Insurance
  • Property Owners’ Liability Insurance
  • Claims Preparation Insurance

This licence took effect on 22 July 2022 and is of indefinite duration. 

OFSI has also extended General Licence INT/2022/1710676 under regulation 64 of the Russia (Sanctions) (EU Exit) regulations 2019. This allows the continued business operations of Evraz’ North American subsidiaries. This licence has now been extended until 31 March 2023.

Link:

OFSI General Licences

Categories: Insurance Licenses OFSI Updates Russia sanctions

eric9to5

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: