Enterprise deficit up to £96m
Liquidator’s report for Gibraltar court reveals that insolvency level is worse than originally thought.
Enterprise Insurance is suffering a deficit of £96m according to the liquidator's report to the Gibraltar courts.
Assessing the report, by Freddie White of Grant Thornton, at a hearing Justice Adrian Jack noted a large number of "uncertainties" and pointed out that the total deficit was £96.4m, reported the Gibraltar Chronicle.
According to the report the sum is almost four times greater than original estimates.
Investigation
The revelation follows the news that the Gibraltar Financial Services
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Non-Financial Misconduct rules and what they mean for the insurance Christmas party
Isabelle Macfarlane, head of London Markets at Insurance Compliance Services, outlines how incoming NFM guidelines may work in practice as we head into the busy Christmas party season.
HSB launches hunt for new engineering MD as Dyson retires
Terry Dyson, the managing director of HSB’s engineering insurance business in the UK and Ireland, has decided to retire at the end of March 2026 after an insurance career spanning 40 years.
MGA Addept launches SME commercial legal protection solution
Addept Insurance Services has added a commercial legal protection insurance solution to its expanding portfolio of legal expense products.
Aviva urges brokers to educate SMEs on cyber risks
Research from Aviva has found 36% of SMEs rank cyber as their most significant risk, with the insurer urging brokers to step in as firms underestimate cyber and other disruptive risks.
Intact enhances commercial products in first move under new brand
Intact Insurance has unveiled three enhanced commercial lines products, the first to be launched under its brand in the UK.
Cyber insurer adds Deepfake Response Endorsement to policies
Cyber insurance specialist Coalition has added a new Deepfake Response Endorsement to its policies globally, including the UK, it has announced.
End of Year Review 2025: Peach’s Ryan Bendelow
Ryan Bendelow, director of commercial at Peach, is sad to see the RSA name consigned to the insurance brand graveyard, nominates Aviva’s Michelle Taylor as the insurance personality of the year, and is worried about an increase in IPT in 2026.
FCA confirms insurance rules simplification
The Financial Conduct Authority has confirmed changes to simplify its rules for brokers and insurers including ongoing training and product reviews and revealed further plans for next year.