Premium Credit to cease working with Gefion
Premium finance provider has had unrated Gefion under "active review" since October and says move follows the various actions imposed by the Danish regulator, including the restatement of Gefion's solvency ratio.
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
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