GEFION INSURANCE A/S CONTINUE TO OPERATE BUT ARE REQUESTED TO STOP WRITING BUSINESS 

As of 25th March 2020, the Danish Financial Supervisory Authority (DFSA) has decided not to approve the recovery plan of Gefion Insurance A/S (Gefion). As a result, the DFSA has ordered Gefion to stop writing business until the DFSA can approve a new recovery plan or until Gefion Insurance complies with the Solvency Capital Requirement.

On that basis, Gefion have requested that we cease writing any business on their behalf. It is important to note that Gefion have indicated that the order does not currently impact upon business which has already been written and operations will continue as usual.

Patrona Underwriting Limited has communicated this to all insurance intermediaries (brokers) on our panel and offered alternative arrangements on our Household and BUMP Private Car products. We have a range of commercial products, previously written with Gefion, that have already transferred to alternative insurers.

• Special Type Vehicles are all placed with AXA Insurance Ireland DAC
• Horsebox/Horse Lorries are all placed with AXA Insurance Ireland DAC
• Commercial Vehicle Couriers are all placed with AXA Insurance Ireland DAC
• Evolve Private Car are all placed with Arch Insurance (EU) DAC
• Evolve Commercial Vehicle are place with RSA Insurance Ireland DAC
• Single Vehicle Haulage, the majority of these have been placed with AXA Insurance Ireland DAC.

We will be addressing any concerns regarding the remaining products with the holding insurance intermediary (broker) as each policy falls due for renewal.