04:49 Jun 22, 2010 

Your statement: 'Permit' is entirely the wrong register.

"Permit" is totally acceptable in the current context.

Check it out for yourself @:
http://www.gov.im/lib/docs/ipa/insurance/guidancenotes.pdf

18:45 Jun 21, 2010 

Yes, I quite agree. I tried to go for something as general as possible and simple used "authorised to offer...".

18:41 Jun 21, 2010 

Using country-specific terminology such as "is authorized and regulated" is risky in that it implies that ABC & XYZ companies are licensed to write insurance business in the UK, which may or may not be the case. While ABC & XYZ may be duly authorized to underwrite insurance in their home country, it is certanly not evident from the context that they have a valid permit to do so in the UK.

If they do not have a valide license delivered by UK authorities, they certainly expose themselves to sanctions by the local regulator.

07:33 Jun 21, 2010 

As there has been some discussion over regional variations, this is just to clarify that I am translating the text into British English and the context is a European one. This particular reference relates to an eastern European country.