Jobs go as insurer Staveley Head calls in administrators

Image source, Google

Image caption, Staveley Head was set up in 1991

An insurance firm has called in administrators, leading to 61 redundancies among its 85 workers.

Staveley Head Limited, Connah's Quay, Flintshire, was set up in 1991, providing specialist insurance.

Policies were underwritten by a Danish insurer but its contract was terminated when it encountered solvency issues.

"This led to an overnight loss of the majority of Staveley Head Limited's business," said joint administrator Steven Muncaster.

The firm provides "niche" insurance for taxis, the motor trade, HGVs and van drivers.

A three-year contract with its main insurer was terminated in November due to its own problems.