Danish regulator orders Gefion to stop writing business
The unrated Danish motor provider says it "strongly disagrees" with the order and adds it has continued its capital raising efforts as it seeks to comply with its solvency capital requirement.
The Danish Financial Services Authority (DFSA) has ordered Gefion Insurance to stop writing new business.
The move comes after the regulator decided not to approve Gefion’s recovery plan and the order will remain in force until the DFSA can approve a new plan or Gefion complies with its solvency capital requirement.
Insurance Age reported earlier this year that Gefion had been ordered not to expand its scope of business.
Solvency
In response, Gefion stated that it “does not agree with the
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