The future of 14,000 motor insurance policies in Ireland is in confusion after the Enterprise Insurance Company, which is regulated out of Gibraltar, was declared insolvent.
Established in 2004, the insurer only started selling car policies here through a brokerage network less than three years ago.
It emerged late yesterday that Gibraltar regulators who had been monitoring the firms finances over recent months were informed of a significant deterioration in the companys position. Its authorisation to do business across Europe, including in Ireland, has been revoked.
Irish insurance brokers said the sudden closure revived fears over the debacle surrounding Malta-regulated Setanta Insurance, which collapsed over two years ago and left ma…
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