| Link(s): | MCE Insurance Limited enters administration | FCA MCE Insurance – Sabre Insurance Company Ltd |
Context
It has been confirmed that Motorbike broking specialist, MCE Insurance Limited were placed into administration on 17th July 2023.
Key points to note
- MCE Insurance Limited, acted as insurance broker for insurance bought through them and customers are insured by Sabre Insurance Company Limited FRN 202795 (‘Sabre Insurance’). Sabre Insurance are not affected by this administration policies are still in force.
- Sabre Insurance released a statement saying an independent expert will now review if the business it underwrites can continue to trade, be sold or will arrange an orderly wind down. Customer policies will remain in force and all valid claims will be paid.
- MCE Insurance Limited is still authorised by the FCA and remains subject to supervisory oversight and the FCA’s rules.
- The Joint Administrators (Mark Holborow, Vincent Green and Steven Edwards, of Crowe U.K. LLP) will update customers directly and via the FAQs on the MCE website.
Next actions
None – for information and awareness.