Unrated Danish insurer goes into liquidation

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New Nordic Advisors has put its wholly-owned Danish subsidiary Qudos Insurance into liquidation with immediate effect.

The unrated Copenhagen-headquartered insurer was closed to new business on 18 October.

The investment management company said it had made the latest move after a review of the insurance company’s position.

It explained that a number of retrospective reinsurance treaties had been opened with legacy specialist Darag to de-risk Qudos and provide a solution for policyholders.

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