Marketing

PwC seeks winding-up of Gable Insurance

Pricewaterhouse Coopers, the Special Administrator to Gable Insurance, has filed an application with the competent Liechtenstein court seeking the winding up of the Gable insurance company.

There are understood to be a number of pubs here who were insured with Gable through various brokers here and the UK.

The move comes in the wake of news that no capital injection will be made to Gable Insurance by its parent company which was decided at an extraordinary shareholders meeting on 11th November.

The outcome of PwC’s application will be known in due course but in the meantime, the Central Bank “strongly recommends that Gable policyholders immediately contact their insurance broker to seek alternative insurance cover.

“This urgency stems from the fact that any claim made by policyholders who hold active policies with Gable may not be fully covered due to the indebtedness of Gable and the pending winding-up order.
“Additionally, the Central Bank has today written to the relevant brokers in this regard.”

 

Further information is available from the FMA Liechtenstein.

The Special Administrator may be contacted at the following email address: pwc.special.administrator@gableinsurance.li.

Sign up for Drinks Industry Ireland

Get a free weekly update on Drinks Industry trade news, direct to your inbox. Sign up now, it's Free