Liechtenstein
Former Gable CEO found liable for £5m misappropriations
The former CEO and chief financial officer of insurer Gable, which collapsed in 2016, have been found liable for millions of pounds in legal proceedings brought by the company’s liquidators.
FSCS has paid out a total £276m following the collapse of unrated insurers Alpha, Gable and Enterprise
The UK’s Financial Services Compensation Scheme has paid out a total £276m in claims to the policyholders of three overseas unrated insurers that collapsed between 2016 and 2018.
Analysis: Iprism moving beyond Gable
Managing general agent Iprism's latest accounts show profits dived and tens of millions of pounds was wiped off the valuation of the company, following the demise of former unrated insurer partner Gable.
Gable disputes £8.8m worth of claims in bankruptcy hearing
Failed unrated insurer Gable has disputed 100 claims totaling CHF 10.9m (£8.8m) in its first bankruptcy court hearing.
Gable had 60,000 UK policyholders when it collapsed
More than 60,000 UK policyholders had business with Gable at the time of its collapse, and the UK guarantee scheme has to date paid almost £27m in compensation.
Court gives Gable creditors extra year to register claims
Gable’s creditors now have an extra year to register their claims.
R&Q buys Clariant Insurance captive
Non-life insurance investor Randall & Quilter Investment Holdings has acquired Clariant Insurance from the Swiss chemicals company Clariant AG.
Liquidator to Gable appoints run-off manager
The liquidator of Gable has appointed Enstar as run-off manager.
In Depth: Unrated insurers: The Biba Litmus Test Report
The downfall of Enterprise and most recently Gable has again raised the thorny issue of unrated insurers.
Gable policies will expire in a month, FCA warns
Policies with Gable will automatically be cancelled in less than a month’s time, the Financial Conduct Authority has warned.
FSCS declares Gable in default
Gable has been declared in default by the Financial Services Compensation Scheme.
Gable creditors have 10 months to submit claims as company enters liquidation
Companies and individuals owed money by Gable have been invited to submit their claims after a Liechtenstein court appointed a liquidator to the company.
Gable turns on administrator over ‘illegal’ shareholder meeting
Gable said it was “illegally” denied voting rights at a shareholders meeting, in which a petition to wind up the company was passed.
Scandinavian Gable policyholders not protected by government schemes
Scandinavian policyholders will not be protected by government guarantee schemes if Gable is declared bankrupt.
Gable needs £58.7m capital injection
Gable needs to provide £58.7m in order to meet its Solvency II requirements, according to its administrator.
Gable to take ‘robust’ defence against insolvency petition
Gable is taking “the most robust” action against its administrators over any petition to declare the company insolvent.
Gable shareholders to meet to determine company’s future
A meeting will take place this afternoon to give Gable shareholders a final opportunity to inject fresh capital into the business.
Gable needs further capital to stave off insolvency, administrator warns
The administrator responsible for Gable has requested a further capital injection in order for the company to remain solvent.
The rise and fall of Gable – where does this leave brokers?
The Liechtenstein-based insurer entered administration last month
Gable Insurance's first decade: seven lessons for start-ups
It is now four weeks since Gable announced it was cutting back its underwriting operations in light of compliance issue with Solvency II.
Gable requests suspension from stock market
Unrated insurer Gable has requested temporary suspension from the AIM stock market until the publication of its annual report.