UK-based life insurance broker Eunisure has gone into liquidation, the Financial Conduct Authority (FCA) has confirmed.
In a release, the regulator noted that the broker's directors have concluded that the business is no longer financially viable and subsequently entered insolvency.
The FCA stated that Roderick Graham Butcher of Butcher Woods has been appointed as the liquidator and that clients who hold policies purchased through Eunisure should contact their insurance provider for more information.
As a result of the liquidation notice, Eunisure will no longer be able to conduct new business.
The broker is owned by consolidator AFH Group following its acquisition in 2017 in a deal with £4.5m.
Prior to the takeover, one of Eunisure's brokers was found guilty of selling fictitious life insurance policies to pocket thousands in commission payments, before the firm uncovered his scheme.
In September 2016, Ahmad Sherazi was sentenced to a nine month suspended sentence for the fraud which was valued at £8,000. Eunisure was not implicated in any wrongdoing.
