The Gibraltar-based Enterprise Insurance, which has around 14,000 private motor customers in Ireland, has ceased trading.

It is understood the insurer had become insolvent and was unable to secure additional funding.

Motor insurance policyholders here, who bought insurance through the broker network, may be affected.

Any policyholder who has concerns about their policy is advised to contact their broker in the first instance.

Most of Enterprise's Irish business has been conducted through insurance broker Wrightway Underwriting (a fully owned subsidiary of the Zurich Group), however, there is no suggestion of Wrightway being in any financial difficulty.

A spokesperson for Wrightway Underwriting declined to comment about Enterprise Insurance to RTÉ News.

The Gibraltar Financial Services Commission (GFSC) - which regulates the company - announced it is seeking to appoint a liquidator to the insurer.

The Central Bank said it was notified by the GFSC today that it is taking steps to wind up Enterprise.

The Central Bank added it will "work closely with the GFSC to ensure all Irish motor policyholders are identified and are communicated with directly". 

Enterprise had been selling motor insurance in a number of European countries including Ireland, France, Italy, and the UK.

View the full Central Bank statement as well as contact details for Enterprise Insurance and the GFSC here.