Gibraltar
MCE slams Gibraltar regulator after insurer arm goes into run-off
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
FSCS confirms MCE Insurance Company has failed
The Gibraltar-based business went into run-off on 5 November, citing difficulties with Solvency II, while the UK-headquartered division of the company has signed a fresh capacity deal with Sabre.
MCE cites Solvency II as reason for run-off of Gibraltar-based insurance arm
MCE boss Julian Edwards says Solvency II favours larger insurers as he discusses the broker's capacity deal with Sabre.
Mulsanne v Marshmallow trial kicks off
Opening statements were heard today and yesterday in the trial which centres around accusations of misuse of confidential information and breach of contract.
Sabre expands into motorcycle insurance with MCE underwriting deal
Sabre takes over as MCE states it stopped placing new business and renewals with its own Gibraltar-based insurance arm, MCE Insurance Company, on 5 November.
Mulsanne parent moves into profit
Refinancing sees the insurer, which also owns Complete Cover Group, move back into profit in 2020.
Mulsanne accuses Marshmallow of stealing trade secrets in court battle
Mulsanne says it has suffered loss and damage of at least £39m, as judge orders Marshmallow to disclose information relating to the case.
Prometheus Insurance falls into administration
The Gibraltar-based insurer, also known as Tradewise Insurance Company, which went into run-off last year, cannot meet claims in full.
FSCS "standing ready" to deal with customer impact from Gefion
COO Jimmy Barber discusses Gefion's solvent run-off, previous insurer failures including Alpha and Enterprise, and why he believes brokers are integral to the Scheme.
Government consults on UK market access for Gibraltar-based firms
The legal framework previously in place needs to be changed due to Brexit, with firms having until 11 May to respond.
FSCS to pay out on four more insurance firms
The failed firms are JB Wilcock Insurance, Benson McGarvey Murdoch, Elite Insurance Company, and Quick-Sure Insurance.
Gibraltar regulator sheds 22 staff in cost-cutting drive
The GFSC has also restructured its management team to be “flatter, wider and more inclusive”.
Gibraltar’s Quick-Sure enters administration
Having stopped writing new business in 2017, the regulator estimates that only 117 claims are left to be settled.
Markerstudy forced to go "on hiatus" for new quotes in commercial lines
Group commercial director Gary Humphreys says MGA is in talks with two potential providers after it was asked by backer QIC to find alternative capacity for its commercial SME book.
Tradewise Insurance Company enters voluntary run-off
New capacity deal will see UK partner Tradewise Insurance Services write motor business into 2020.
Elite Insurance goes into administration
The Gibraltar-based insurer closed to new business in July 2017.
2019 in review: May's top stories
The top stories in May were dominated by insolvencies, run-offs, liquidations, and redundancies.
News analysis: Are brokers still in love with Gibraltar insurers?
The recent run of Gibraltar-based insurer insolvencies has made the headlines, but the low tax and light-touch regulations in the jurisdiction attract UK businesses and insurtech start-ups. Martin Friel investigates why brokers are still dealing with…
Quizzical questions: 15 November 2019
Test your knowledge of the week's news with our topical quiz.
FSCS pays out to Lamp home customers
Unrated Gibraltarian insurer went into liquidation in May.
FSCS pays out to Lamp GAP and health customers
Gibraltarian insurer went into liquidation at the end of May.
Red Sands scoops up failed insurer Lamp’s home policies
Now4Cover has moved the customers to Gibraltar-based provider Red Sands.
Elite proposes solvency scheme to avoid liquidation
Gibraltarian insurer warns liquidation would be costly for creditors and could delay claims payments.
Lamp declared in default following insolvency
The FSCS is still in the process of identifying how many UK policyholders are affected by the failure of Lamp as Now4Cover seeks replacement provider.