Struggling Danish Insurer Ordered Not To Expand Business

Law360, London (January 15, 2020, 1:06 PM GMT) -- The Danish financial watchdog has placed new restrictions on Gefion, warning in an alert that the struggling insurer has “serious liquidity problems.”

The country’s Financial Supervisory Authority said on Tuesday that the Danish company should not expand its business into other countries or through other lines of insurance than those it currently writes.

It is the second time the Danish FSA has imposed such an order on Gefion Insurance, which sells motor cover through brokers in the U.K. and other countries in Europe. The previous suspension order was lifted when Gefion appealed through a business court.

“The Danish Financial Supervisory Authority considers it...

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