Gable’s share price crashed 23% following the annoucement that it can’t raise the money to hit Solvency 2 requirements and revelations of further losses in the business.
The crisis-hit insurer’s share price fell from 8.5p to 6.91p.
The company said in a trading update: “Solvency II appears to be incompatible with small niche European insurance business models.”
In addition the restructuring, Gable also warned that its full year 2015 loss will be worse than the £7m to £8m initially expected.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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