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Liquidator of insolvent Gibraltar insurer appointed

The Supreme Court of Gibraltar has ordered the appointment of the Official Receiver, a government department, as liquidator of LAMP Insurance Co. Ltd.

The Official Receiver tapped Grant Thornton Ltd. to advise and assist on matters relating to the liquidation.

In May, LAMP asked the court to appoint an official receiver and place the business into liquidation. LAMP said it is insolvent and has been unable to secure additional financing.

The company provided general insurance products, including legal expenses, healthcare, and general and warranty insurance, to clients in the U.K., Europe and Asia.