Alpha Insurance at risk of failing solvency requirements
Unrated Danish insurer hit with order by Danish FSA.
Alpha Insurance, a Danish provider of motor fleet cover, has been ordered to develop a recovery plan by the regulator the Danish Financial Supervisory Authority (DFSA) following an inspection.
The inspection revealed that in the view of the DFSA counterparties are unlikely to meet two obligations to Alpha and as a result the insurer has been ordered to reduce the value of two sums owed to it by 36.5m Danish Krone (DKK) or £4.37m.
The regulator believes that this order will cause Alpha
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