On 25th March 2020, the Danish Financial Supervisory Authority (DFSA) decided not to approve the Solvency Capital Requirement recovery plan of Gefion Insurance A/S (Gefion).  As of the 24th June 2020 the DFSA has decided not to grant Gefion an extension of the recovery period.

As a result, Gefion’s licence as an insurance company has been withdrawn. In accordance with the provisions of the Danish Financial Business Act, Gefion will now enter into a solvent liquidation. This is standard practice when the license to act as an insurance company is withdrawn. Gefion emphasise that the liquidation is a solvent liquidation, where the Company will continue to meet all its financial obligations.

Click here to view Gefion’s Solvent Liquidation Announcement

Click here to view Gefion’s Solvent Liquidation FAQ document

Further information on the DFSA’s decisions and information to Gefion’s policyholders will be published on their website www.gefioninsurance.com under ‘Information’.

If you have any further queries, please contact your broker.