Gable Insurance AG, Bergstrasse 10, 9490 Vaduz, is an insurance undertaking having its seat in Liechtenstein being licensed for non-life insurance classes 1, 2, 3, 7, 8, 9, 10, 13, 15, 16 and 17 of Appendix 1 of Directive 2009/138/EC.
On 7 September 2016, the Liechtenstein Financial Market Authority (FMA) issued a formal order (Verfügung) against Gable Insurance AG, prohibiting the conclusion of new insurance contracts and the transfer of assets to affiliated entities and persons. This formal order covers all classes of insurance and all jurisdictions and became effective immediately upon delivery to Gable Insurance AG on 9 September 2016. In its formal order, the FMA clarified that the statutory term “new insurance contracts” also covers renewals and extensions. Pursuant to Liechtenstein procedural law Gable Insurance AG has the right to file a complaint against the FMA’s formal order within fourteen days from delivery. Please note that the FMA is not in a position to provide legal advice on the implications of its formal order under provisions of contract laws applicable in a specific jurisdiction.