The Barbados Financial Services Commission has applied to the High Court for leave to present a petition to wind up Equity Insurance Company Ltd, moving toward a court-supervised liquidation after developments that it says have materially increased the insurer’s risk profile. The Commission pointed to significant additional risk factors in Equity’s financial position, disruption to its reinsurance arrangements, and a history of statutory non-compliance. It also referenced earlier intervention steps, including the seizure of management and control in August 2025, the appointment of a PwC partner as Appointed Manager, and the subsequent revocation of Equity’s licence effective 31 December 2025, when a one-year policy run-off had initially been contemplated. Existing policies remain in force until the Court determines the petition, and the Commission urged policyholders to consider replacement cover and said it is engaging the domestic insurance sector, including the General Insurance Association of Barbados, on arrangements for displaced policyholders. The next steps depend on the Court’s consideration of the Commission’s application and petition, with further updates and FAQs to be published by the Commission as the resolution process progresses.

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