MCE slams Gibraltar regulator after insurer arm goes into run-off

gibraltar monkey

MCE Insurance has criticised the Gibraltar Financial Services Commission (GFSC) for applying capital add-ons to Green Realisations No 123 (GR), formerly MCE Insurance Company, which it stated has led to an “orderly and solvent” filing for administration.

As previously reported, MCE’s Gibraltar-based insurer arm went into run-off on 5 November, with CEO Julian Edwards stating that the move followed difficulties with complying with Solvency II requirements.

MCE said in a statement: “MCE UK

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