Holders of Unit linked products Orion Capital, Star, SIR and Opportunity due to Mature 1 June 2020:
We have been given notice by the issuer of the underlying investment on 23 April 2020 that, due to the Coronavirus disruptions in Britain and associated Government lockdown measures:
* Final realisation of assets to meet the maturity date of 1 June 2020, has been impacted.
* The Maturity date is delayed to 1 June 2022.
* As proceeds are collected there may be earlier redemptions.
More detail is in the Full letter in the website or email support@orionlife.com.
This is an unexpected development and the managers wish all policyholders to keep safe in this difficult time.
IMPORTANTPlease be informed that Orion Life Insurance's international Insurance license issued under the International Insurance and Takaful Order 2002 (IITO 2002) has been revoked by the Autoriti Monetari Brunei Darussalam with effect from 15 December 2015. Pursuant to Section 17(1) of the IITO 2002. Orion Life Insurance is to cease to transact any further business. However notwithstanding this and pursuant to Section 17(2) IITO 2002, Orion Life Insurance have been authorized by the AMBD only to transact its business activities to such extent for the purposes of meeting the claims of its policy owners, customers or creditors. As such Orion Life Insurance can be contacted at the following:
Please also take note that Orion Life Insurance has been struck from the register of the International Business Companies Register under the International Business and Companies Order (IBCO) 2000. However pursuant to Section 153 IBCO 2000, Orion Life Insurance is to remain responsible for all its claims, debts, liabilities and obligations, notwithstanding it being struck off the register. |