Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
The Danish regulator says the unrated provider has “serious liquidity problems” as Gefion says it is in progressed discussions with potential capacity providers.
Laurence Eastham and Siân Barton consider the top stories from the first full week back in the office in 2020, focusing on Gefion and the recent spate of run-off announcements.
Gefion has disagreed with the decision, as the regulator points to issues with one of the provider's reinsurance contracts.
The Danish provider has complied with the order from a regulator to have liquid assets of at least €5m by the end of 2019, after further investment from shareholders.
Test your knowledge of the week's news with our topical quiz.
The MGA moved away from the troubled unrated Danish provider earlier this year.
In July, the market was shocked by the departure of Amanda Blanc from Zurich after only nine months in the CEO EMEA role.
The struggling unrated Danish provider must have €5m in liquid assets by end of this month as watchdog points to “serious” problems.
Scheme has in total paid out £31m in premium refund compensation to 229,000 Alpha policyholders following the collapse of the unrated Danish insurer in May 2018.
Alpha was CRL's sole provider until it went bankrupt last year, and CRL has filed a document on Companies House which proposes the firm is wound up.
The unrated Danish provider has been looking to recapitalise since July when the Danish regulator ordered it not to increase its volumes of business due to its solvency situation.
Unrated Gibraltarian insurer went into liquidation in May.
Gibraltarian insurer went into liquidation at the end of May.
The FSCS has been advised that all queries are being redirected to BCR.
Staveley Head denies the breach of duty and breach of contract accusations alongside claims firm Proximo.
Ready for unrated? Brokers that use unrated providers need to make sure they’ve done their homework, says Peter Hughes
The body has stepped in after the collapse of the deal with BCR Legal Group.
FSCS flagged that “last minute issues” are preventing the deal being finalised as it admits it is unsure what the final outcome will be.
Now4Cover has moved the customers to Gibraltar-based provider Red Sands.
Collapsed Danish insurer's latent defect policyholders will now be covered by a new, solvent insurer.
Broker has had its deadline extended several times, but FSCS says "good progress" has been made in recent days.
Premium Credit also issued Gefion with an ultimatum for cutting business ties.
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.