Gefion enters liquidation after it loses insurance license
The troubled Danish provider says it is "disappointed" after Danish regulator refuses three-month extension to its recovery period forcing it into run-off.
The Danish Financial Supervisory Authority’s (DFSA) has withdrawn unrated provider Gefion Insurance’s license as an insurance company.
As a result, Gefion has entered into solvent liquidation and will no longer write new business or renewals.
This follows the DFSA’s decision not to approve the insurer’s recovery plan in March this year. At the time the provider was also ordered to stop writing new business.
Refusal
In an update on 29 June, the DFSA explained that it has now refused to grant
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