FSA gets tough with Xsavi

The Financial Services Authority (FSA) has cancelled Xsavi's permission for failing to conduct its business in compliance with proper standards and for having inadequate financial resources.

The FSA said it was is the first enforcement cancellation on conduct of business grounds taken against a general insurance firm since it took over the regulation of general insurance in January last year.

Between 1 and 25 February 2005, Xsavi claimed to be acting as agent for an insurer and to have authori

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: