IICL in compulsory liquidation

The Central Bank of Liberia (CBL) has initiated bankruptcy proceedings against International Insurance Company of Liberia (IICL), a life and non-life insurance company licensed since 2007.

Having been monitored by the Administration since 27 January 2016, IICL has seen its licence revoked in June 2017.

The company is facing serious solvency problems as well as low liquidity caused by poor management and weak internal control.