Unrated Gefion reports losses in 2018
Danish provider received cash injection to improve its solvency ratio on 6 May.
Unrated Danish provider Gefion Insurance A/S has been forced to take action to bring its solvency ratio back to 130%, after its Solvency Capital requirement increased from m(million)DKK120.6 in 2017 (£14.4m) to mDKK178.7 in 2018.
The motor insurer stated in its Solvency Report that these actions included a cash injection of mDKK39.6 which, along with an increased level of reinsurance with an existing reinsurer, brought its solvency ratio up from 72% on 6 May 2019.
This latest move follows a
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