UK entity of offshore Arron Banks firm applies to be struck off

Arron Banks Brightside

Exclusive: A UK entity connected to an offshore Arron Banks holding firm has applied to be struck off the register of companies.

ICS Risk Solutions (UK) applied to be dissolved on July 3. It was incorporated in August last year.

The firm is a UK entity connected with ICS Risk Solutions, an Isle of Man holding firm for Banks’s main insurance firm, Eldon Insurance. The entity is registered to the same Bristol address as Eldon.

Elizabeth Bliney, the former CEO of Leave.EU, is listed as a director of ICS Risk Solutions (UK) and Isle of Man-based ICS Risk Solutions.

The Parliamentary Fake News Inquiry saw MP Rebecca Pow ask Banks whether Companies House had asked ICS Risk Solutions to publish its accounts “in order to get some clarity”.

Banks denied that Companies House had done so. A spokesperson for Companies House declined to comment.

Prior to its application to be struck off, ICS Risk Solutions (UK) filed in December to have its reporting period extended, from August 2018 to December 2018.

The Isle of Man-based ICS Risk Solutions registered a separate UK establishment on 29 June, with a reporting period of 31 January 2019.

In 2015, Isle of Man-based ICS Risk Solutions invested £77m into another Arron Banks’ firm – Southern Rock.

In the inquiry, Arron Banks shrugged off questions over the investment.

“The money went from one company I owned to another company I owned,” Banks said. “I struggle to see what the killer question is.”

According to Companies House records for Eldon, Banks owns between 50-75% of ICS Risk Solutions

Banks could not be immediately reached for comment.

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