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The Gibraltar Financial ServicesCommission hasannounced thatMCE Insurance Company Limited has entered into administration.
MCE Insurance Company Limitedis an insurance firm authorised and regulated by the Gibraltar Financial Services Commission (GFSC). It operatedin the UK on a freedom of services basis which meanscustomers based in the UK may holdpolicies with the firm. Policies were sold in the UK through their UK based broker, MCE Insurance Ltd.
On 19 November 2021, following an application for administration to the Supreme Court of Gibraltar the company was placed into administration.
Andrew Stoneman and Geoff Bouchier ofKroll(Gibraltar) Limited have been appointed as joint administrators of the company.
The company ceased writing new insurance on 5 November 2021, and predominantly wrote motorbike insurance and car insurancepolicies, specifically for UK customers.
Existing insurance policies remain in force and are valid. If you are a policyholder ofthe companythen your policy will continue to be administered by the UK brokerMCE UK.
More details can be found onGFSC’s website, Kroll’s websiteand from theFSCS.
https://www.fca.org.uk/news/news-sto...administration
