Danish watchdog orders Gefion to recalculate solvency level
Regulator says the unrated Danish provider has a solvency ratio of 105% after assessment.
The Danish Financial Supervisory Authority (DFSA) has stated that Gefion Insurance’s solvency ratio is 105% as of 31 May, instead of the 130% Gefion posted in its Solvency Report in June.
The Danish provider was forced to take action earlier this year, after its solvency ratio dropped to 72%.
The motor insurer stated that these actions included a cash injection, along with an increased level of reinsurance with an existing reinsurer.
Requirements
The regulator said in a statement: “The DFSA
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