Elite Insurance has today announced that it has resolved to cease writing new business with immediate effect. All policies issued up to date will remain in force and policyholders will not be affected. All claims should continue to be submitted to the company’s claim handling agents as stated on policy documents. CEO Jason Smart said, “Elite has today taken the decision to cease writing new business. The Board is confident that it will be able to conduct an orderly runoff and is working with its advisors to ensure that obligations to policyholders and other creditors will be satisfied in full”.
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