Enterprise Insurance customers to have policy values paid by firm that sold the policies here

A Zurich subsidiary called Wrightway is set to cover the cost of replacing customer's premiums following the collapse of Enterprise Insurance.

Gibraltar-based Enterprise Insurance - which has 14,000 costumers in Ireland - is being wound down after it collapsed on Friday.

The Central Bank said that while it did not have regulatory control over the company, it would work with authorities in Gibraltar to ensure all Irish motor policyholders were identified.

Wexford-based Wrightway Underwriting, which sold the policies here, has now said it will make an ex gratia payment to its brokers to pass onto their policy holders, to a value equalling the premiums payable between now and the end of the policies.