Gefion Eyes Court Hearing To Permanently Lift Expansion Ban

Law360, London (October 31, 2019, 5:30 PM GMT) -- Danish insurer Gefion is preparing for a court hearing on whether the temporary lifting of a ban on business expansion can become finalized, its chief executive told Law360 on Thursday.

Gefion was ordered in July by the Danish Financial Supervisory Authority not to expand its business volume over concerns about its corporate governance and capital buffers. Gefion appealed the ban before the Danish Business Appeal Board, which granted a temporary reprieve from the ruling on Sept. 23 pending a final hearing to be held at an unspecified date.

The Copenhagen-based unrated insurer, which has significant business in the U.K. through managing general...

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