Shares in Goshawk Insurance fell over 9% this morning to 5.25p as the company warned it will miss the regulatory deadline for posting its audited 2005 results.
Goshawk promised the results would be published no later than May 19 but the delay is likely to mean the shares will be suspended on the London Stock Exchange from May 2, to resume when the results are published.
The company added it has nothing to add to a statement issued on Jan 3 in which it raised its provision for losses from the hurricanes by $25m to $130m.
At the time, Goshawk said the increase pushed its Bermuda-based reinsurance subsidiary Rosemont Re below the minimum solvency requirements set out by Bermudan regulators.
Rosemont Re was placed in run-off in October last year.
