Gefion ordered not to expand its scope of business
The Danish regulator says the unrated provider has “serious liquidity problems” as Gefion says it is in progressed discussions with potential capacity providers.
The Danish Financial Supervisory Authority (DFSA) has ordered Gefion Insurance not to expand its scope of business.
The regulator stated that the unrated motor provider has not complied with its solvency capital requirement.
It added that it has assessed that Gefion has “serious liquidity problems” and that it believes that the interests of policyholders and beneficiaries are at risk.
The DFSA continued: “The Danish Financial Supervisory Authority considers it inappropriate if the company
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