UK Finance Provider Ends Dealings With Danish Insurer

Law360, London (July 8, 2019, 4:00 PM BST) -- A British provider of premium financing has severed ties with Gefion, a Danish insurer, after the company was ordered by its national regulator to amend its solvency calculations.

Premium Credit Ltd. has said it will no longer finance premiums for customers who are covered by Gefion Insurance A/S, which is licensed in Denmark to provide non-life policies across the European Union. The Danish watchdog has found the insurer breached requirements of the Solvency II directive, the European Union’s rules on capital.

The U.K. financing company, which allows its customers to spread the cost of their annual policy through installments, said it has...

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