Unrated Gefion reports losses in 2018
Danish provider received cash injection to improve its solvency ratio on 6 May.
Unrated Danish provider Gefion Insurance A/S has been forced to take action to bring its solvency ratio back to 130%, after its Solvency Capital requirement increased from m(million)DKK120.6 in 2017 (£14.4m) to mDKK178.7 in 2018.
The motor insurer stated in its Solvency Report that these actions included a cash injection of mDKK39.6 which, along with an increased level of reinsurance with an existing reinsurer, brought its solvency ratio up from 72% on 6 May 2019.
This latest move follows a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Buss retires from Arag UK CEO role as Haynes steps up
David Haynes has been named CEO of Arag UK Holdings and Arag Legal Expenses Insurance as Tony Buss retires from the role.
Chubb brings Houston from US to lead new UK commercial insurance division
Chubb has appointed Andy Houston as head of UK commercial insurance, moving from the USA to take up the role next month.
Hedgehog Risk seeks new markets after securing US investment
SIG Insurance has acquired a substantial stake in specialist sports and prize insurance provider, Hedgehog Risk.
CFC adds property damage to large line cyber product
CFC has added property damage to its large corporate cyber proposition, stating the move came in response to broker demand and addressed a gap in the market.
Zurich adds Gallagher’s Louise Martin for new business role
Zurich has appointed Louise Martin as head of new business development, joining from Gallagher.
Five insurers scoop Gracechurch’s regional Service Quality Marques
Allianz has been awarded two UK regional market insurer Service Quality Marques by Gracechurch, with Arch Insurance, Axa, Chubb and Ecclesiastical also being accredited.
AIG expands Jon Hancock’s role
AIG has expanded former Lloyd’s and RSA leader Jon Hancock’s role, with additional responsibilities in global personal lines, as it reorganised into three segments.
Arch partners with charities to address educational inequality
Arch Insurance International has launched a charity partnership with Magic Breakfast and the National Literacy Trust to help tackle growing educational inequality in the UK.