MCE placed into administration

MCE Insurance have been placed into administration by directors due to the company’s financial position, but existing customer’s policies will remain in place.

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In a statement on their website the insurer said: “The Company will not be writing any new policies. The Joint Administrators are working closely with Sabre (Insurance Group – underwriters) to find a resolution that minimises any disruption to existing policyholders and ensures they are treated fairly.

“All customers’ existing policies remain in place; they will continue to have cover and are not impacted by the appointment of the Joint Administrators. There is, therefore, no action customers need to take. Sabre is not affected by this administration and will continue to meet valid claims made under existing policies.”

The statement added: “The Company is a separate entity to MCE Insurance Company Limited (now Green Realisations 123 Limited), a Gibraltar based insurance company which entered administration in November 2021.”