Helphire has confirmed a balance sheet shortfall of £27m after a KPMG investigation.

The accident management company has also made a fresh £14m writedown on its credit repairs business, according to the Telegraph.

Helphire said the accounting error happened when the firm overstated how much it was owed by insurers.

Helphire revealed in its interim management statement covering 1 January to 20 April that, following the completion of its restructuring, it had become aware that there may be a “material overvaluation” in the carrying value of ABI debtors in its financial systems when compared with its operating systems.

It said preliminary findings showed a £25m overstatement, representing 15% of the group’s receivables at 31 December 2010.

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.
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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