MCE claims recovery proposals for Gibraltar insurer were declined by regulator
MCE Insurance has alleged that it tabled proposals to “immediately meet any shortfall” in the capital requirements of its Gibraltar-based insurer but these were declined by the Gibraltar Financial Services Commission ahead of the provider’s collapse last week.
MCE Insurance Company Limited – since renamed Green Realisations No. 123 Limited, or GR – appointed administrators at the end of last week.
The insurer previously underwrote policies sold through MCE
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