To

The Principal Officer,
M/S. Protect Insurance Services ( India ) Pvt. Ltd.,
604, Vishvananak, ICT Link Road ,
Chakala, Andheri (E),
MUMBAI- 400 099.

Dear Sir,

 Sub : CANCELLATION OF BROKER LICENSE NO 138.

WHEREAS, M/S. Protect Insurance Services (India) Pvt. Ltd ., (hereinafter referred to as the ‘Broker’) having its Registered Office at Kachwala Building, 3 rd Floor, Opp: old Passport Office, 266, Dr. Annie Besant Road, Prabhadevi, Mumbai 400 025 has been granted license by the Authority to act as a Direct Broker in the field of general insurance vide License No. 138 on 1 st April, 2003 and renewed till 31 st March, 2009 pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2002.

WHEREAS, the Broker vide letter dated 4 th November, 2008 communicated to the Authority that it would like to discontinue as Direct Insurance Broker with immediate effect.

WHEREAS, the Broker has given an undertaking to service the existing clients whose policies are in force for a period of six months from date of cancellation of license as required under Regulation 40 of the IRDA (Insurance Brokers) Regulations, 2002, within which it has to make suitable arrangements with another licensed broker to service the contracts already concluded.

WHEREAS, the Broker vide its letter dated 26.12.2008 submitted the original license No.138 for cancellation.

NOW THEREFORE, pursuant to the request made by the Broker for surrender of Broker License, the Authority hereby cancels the Direct Broker License No. 138 granted to M/S. Protect Insurance Services ( India ) Pvt. Ltd with immediate effect.

The Broker is advised to remit annual fee payable for the year 2008-09 after finalization of accounts and as prescribed under Schedule II of IRDA (Insurance Brokers) Regulations, 2002 and as amended vide IRDA (Insurance Brokers) (Amendment) Regulations, 2007.

( Prabodh Chander )
Executive Director