Propgen Insurance Limited (“the Company”) requested the Malta Financial Services Authority (“MFSA”) to accept the surrender of the authorisation which was issued to the Company to carry on general business of insurance in terms of the Insurance Business Act (Cap. 403 of the laws of Malta). The MFSA has accepted the surrender of such authorisation. This surrender is entirely voluntary and does not arise as a result of any regulatory action taken by the MFSA but is due to a strategic decision of the Company. Accordingly, the Company ceased to be authorised by the MFSA with effect from 30 March 2020.