Important Information: Gable Insurance AG

As a result of Liechtenstein based Gable Insurance AG being formally placed into liquidation, we wanted to make you aware of the potential impacts on both you and your customers.

The latest information from the Liechtenstein Financial Market Authority (FMA) is that:


'On 17 November 2016, the Liechtenstein Court opened winding-up proceedings in relation to Gable Insurance AG, Bergstrasse 10, 9490 Vaduz, and appointed Batliner Wanger Batliner Attorneys at Law Ltd., Am Schrägen Weg 2, 9490 Vaduz, as liquidator. Please see

Questions relating to the legal position of policy holders and other parties must be directed to the liquidator’s e-mail-address

The FMA notes that art. 31 para. 1 of the Liechtenstein Insurance Contract Act (Versicherungsvertragsgesetz) provides: If winding-up proceedings are opened in relation to an insurance undertaking, the contract expires after the lapse of four weeks, calculated from the day on which the opening of winding-up proceedings was made public.

The Special Administrator of Gable Insurance AG, PricewaterhouseCoopers AG, Birchstrasse 160, 8050 Zürich, Switzerland (PwC), had notified on 31 October 2016 the Liechtenstein Court of the company’s over-indebtedness, and asked the court to postpone the commencement of winding-up proceedings until the date of an extraordinary shareholders meeting.

Since the shareholder of Gable Insurance AG, Gable Holdings Inc., did not provide further capital, PwC filed an application for the opening of winding-up proceedings on 14 November 2016.

On 10 October 2016, the FMA had appointed PwC as Special Administrator for Gable Insurance AG to assess the financial situation of Gable Insurance AG and protect the interests of Gable Insurance AG‘s policy holders.'


Further information and updates can be found on the FMA website.

The UK's compensation scheme is the Financial Services Compensation Scheme (FSCS). The FSCS has established that Gable Insurance AG cannot meet claims made against it and has declared it in default. As such the FSCS will protect eligible UK policyholders subject to the limitations set out in the Policyholder Protection Rules. 


How this affects customers with Credit Agreements with Premium Credit

By signing a Credit Agreement to finance the cost of their insurance, policyholders have entered into a separate contract with Premium Credit. They have agreed to repay the credit we provided to pay their premium to the insurer in full by Direct Debit payments, whether or not the policy is in force. We will therefore continue to collect payments from policyholders.

Where customers contact us directly, they will be advised that our standard repayment terms continue to apply, and we will keep collecting payments due under their Credit Agreement until the credit is fully repaid. If your customers stop making payments we will request payment of the outstanding balance. Before they take any action, customers should speak to you or our Credit Control Department for further information.

We are aware of the very difficult situation you face, and understand that you have been working hard to ensure your customers have appropriate cover in place.

How we are working to support brokers and customers

As customers are now being advised to replace their policies, we want to work with you to help you retain business, and support your customers. Where new policies are arranged, we will be happy to discuss a number of options with you to help your customers pay both their existing payments and finance any additional premiums. For example, subject to underwriting, we will consider:

  • adding the premium for a replacement policy to the existing Credit Agreement, covering the same policy term, to be repaid over the remaining payment period for the current balance.
  • adding the premium for additional policies as a separate transaction under their Credit Agreement, covering a new 12 month term, to be repaid over a new payment period; meaning such payments would be collected in addition to their current payments.

As a reminder Gable Insurance AG has for several weeks been removed from the insurer drop-down menu on both our Interactive and PLaSMA systems.

For specific Credit Agreement enquiries please contact Kim Jardine, Collections Manager:


For general enquiries please contact 
0344 736 0342


We hope you will see this as a positive step and evidence of our continued commitment to you as a valued broker.


Gable Insurance AG Communications


The communications we've sent about Gable Insurance AG along with the date we've sent them.


Date Communication
22 November 2016 Important Request: Gable Insurance Company
6 December 2016 Important Reminder: Gable Insurance Company

Gable spreadsheet Download

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Read the FSCS announcement

Please click the button below to read the FSCS announcement on their website. 

Read the FSCS Q&As

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