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Gefion liquidators revealed after unrated insurer's licence revoked

By 2020-07-16T06:37:00

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Chief executive Tonny Anker-Svendsen said the Covid-19 crisis had hampered efforts at raising additional capital

Unrated Danish insurer Gefion has had its licence revoked and will enter voluntary liquidation after the Danish Financial Services Authority (DFSA) failed to extend its recovery period.

Earlier in the year the DFSA decided not to approve Gefion’s recovery plan, since it did not provide “sufficient evidence that the company would be able to fulfill the solvency capital requirement within six months and hence be able to adequately protect the interests of current and future policyholders”.

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