Standard Re (Malta) 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 reinsurance 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 decision of the Company to transfer its rights and obligations under its general business policies of reinsurance to Southland National Insurance Corporation, a company registered in North Carolina. The transfer of the business was approved by the MFSA with effect from 31st December 2018.