Unrated carrier Gefion has ‘serious liquidity problems’

Gefion has ’serious liquidity’ problems, according to the Danish Regulator.

The Danish FCA has now ordered Gefion to ‘not expand its scope of business’.

In another worrying statement, the Danish FCA said the interests of policyholders are ‘at risk’, meanwhile, Gefion does not comply with solvency capital requirements.

The Danish FCA said trying to solve liquidity issues through premium growth would be ‘inappropriate’.

Gefion has been one of the UK’s fastest expanding unrated insurers, with Insurance Times last year revealing the rate of its growth.