Gable posts £24.3m pre-tax loss for 2015 and stops writing new business

Gable Holdings chief executive William Dewsall

Unrated Liechtenstein-based insurer aiming to achieve Solvency II compliance.

Gable Holdings has reported a pre-tax loss of £24.3m for the year ended 31 December 2015, a substantial deterioration on the £5.4m it lost in 2014.

In May it had advised that pre-tax losses were likely to be larger than the anticipated £7-8m and would come in at up to £14m.

No new business 
It has now closed to new business.

The company highlighted that the latest deficit includes:

• £7.5m provision to eliminate the remaining balance of the pre-2012 historical reserving gap;

• Increased £7.9m

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