Update for customers of Gable Insurance AG

11th November 2016

FSCS is aware that the special administrators of Gable Insurance AG, a Liechtenstein insurer, have issued an instruction to the UK agents of the firm to suspend paying claims whilst the firm’s financial position is investigated further.

Following a court hearing which took place in Liechtenstein on Wednesday, a shareholders’ meeting has taken place today (11th November).

FSCS is monitoring the position closely, including a further court hearing on Monday next week, and is in discussions with the Special Administrators. We have not yet declared the firm in default.

Jargon Buster

  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.