Premium Credit has confirmed it has stopped financing insurance premiums where unrated Danish provider Gefion Insurance is the underlying insurer.
The business said in October that it had Gefion under “active review” and was monitoring the volumes being written.
This follows the news from earlier this month that the Danish Financial Supervisory Authority (DFSA) stated that Gefion’s solvency ratio is 105% as of 31 May, lowering it from the 130% the provider posted in its Solvency Report in June
The editorial team get their teeth into the top stories.Subscribe to our daily newsletter for all the latest news
- FCA warns of Moneysupermarket clone
- Documents reveal government actuary recommended a 0.25% discount rate
- Construction firm unable to find insurance due to lack of capacity
- Fact file: What’s the story with the Ogden Rate?
- Hastings expects £8.4m hit from Ogden rate change
- Insurers disappointed by the new discount rate
- Blog: What is JCT 21.2.1 insurance, and who needs it?