Mulsanne blames poor performing schemes and inflation for latest solvency issues
Mulsanne Insurance Company has admitted speaking to its regulator the Gibraltar Financial Services Commission about solvency capital requirement issues for the second time in four years, Insurance Age can reveal.
According to its Solvency and Financial Condition Report for the year ending 31 December 2022, the Abacai Group-owned group blamed “losses” for it posting an unaudited regulatory capital Solvency ratio of 108% of the SCR.
There are now signs that this pressure is abating. As a result of the underwriting changes made in 2022, it is managements expectation that there will be a significant improvement to the underwriting results in 2023.
The company added: “During Q4 2022, due to
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