Gable considers sale amid Solvency II transitions

Gable is considering a sale of the firm amid transitional provisions of Solvency II.

The European insurer has entered into discussions with a number of different parties, and is also maintaining a regular dialogue with its regulator the FMA in Liechtenstein, as regards the range of potential options open to the company.

At this stage, the company said no ‘firm conclusions’ have been reached, but the exercise is expected to lead to a fundamental restructuring of the Gable business.

The firm stated: “The Board has not restricted its considerations in any way and has not ruled out the potential sale of the company as a whole or the disposal of a substantial proportion of the company's trade and assets.”

“Whilst the Board of Gable is encouraged by the range of available options and level of third party interest being shown in these, as well as the support of the FMA, there can be no certainty at this stage as to the outcome of these discussions and a further announcement will be made in due course, as appropriate.”