Quick-Sure placed into administration

The Supreme Court of Gibraltar has appointed Grant Jones and James Oton as joint administrators of Gibraltar-based insurer, Quick-Sure. The firm provided motor covers for private consumers in the UK and Ireland.

The firm ceased writing new business in March 2017 and has no unexpired policies. Since then, Quick-Sure has continued to settle claims.

The firm contacted the Gibraltar Financial Services Commission in December, as it had been unable to secure sufficient additional funding from shareholders to ensure all liabilities could be met. Earlier this month, it applied to be placed into administration.

The GFSC stated approximately 117 outstanding claims remain to be settled.

The administrators will coordinate with the Financial Services Compensation Scheme to ensure that policyholders will continue to have all valid and eligible claims settled.

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