Gable Insurance AG (GIAG) went into administration today as financial regulators in Liechtenstein placed the ailing insurer's operations into the hands of PricewaterhouseCoopers' Swiss branch.
Chief executive William Dewsall blamed the financial rigours imposed by Solvency II as a major cause of the Gable Holdings unit's downfall.
"The Gable Group has for some time been trying to meet the onerous obligations of the Solvency II regime," Dewsall said in a statement today. "Unfortunately, it has proved impossible to do so.&...
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