Exclusive: Danish unrated insurer Gefion took out a further chunk of reinsurance and injected capital, after its solvency ratio plummeted to 72% in 2018.
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
The New Zealand high court has placed CBL Corporation into liquidation.
The Financial Services Compensation Scheme has revealed that it has worked with a number of brokers to transfer around 165,000 Qudos motor and pet insurance policies to new providers.
The Financial Services Compensation Scheme has given CRL Management an extra two weeks to find an alternative insurer for its customers that were insured by collapsed Alpha Insurance.
The British Insurance Brokers’ Association has hit out over an extra Financial Services Compensation Scheme bill that firms will have to pay in February.
Qudos, the unrated Danish insurance company that was placed in liquidation last month, has been declared bankrupt.
Hooking the headlines this week, Danish unrated insurer Qudos was placed in liquidation by its owner.
Danish unrated insurer Qudos plunged into liquidation yesterday, amid owner New Nordic’s lawsuit alleging that former owners Echelon “fraudulently reported” vital information prior to the 2017 sale of the insurer.
The owners of Danish unrated insurer Qudos have placed the business into liquidation, after it ceased to write new business in October.
CBL Insurance’s administrators had been working on a restructuring proposal, but the firm has been placed into liquidation.
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
UK policyholders with failed Danish insurer Alpha have been provided alternative cover via the guarantee scheme.
Analysis: Has the industry learned its lesson after the collapse of a third unrated insurer in two years?
After three months of solvent run-off, Danish insurer Alpha finally fell over last month. Its collapse sent shockwaves through the market and prompted black cab drivers to besiege the offices of their London broker.
Exclusive: UK policyholders for Alpha Insurance have been left in limbo following the company being declared bankrupt.
Barbican Specialty Re and broker Howden are the latest companies to become embroiled in the fallout of Gable.
Brokers have again been warned against using unrated carriers following solvency difficulties at Danish carrier Alpha Insurance.
Denmark’s largest insurance company Tryg is to buy competitor Alka Forsikring for 8.2bn DKr (£1bn).
Towergate Underwriting has launched an international managing general agent for Scandinavia.
It is estimated that the Grenfell Tower fire could result in claims of up to £50m. However, the carrier responsible for insuring the building said that its expansion plans for the UK remain undimmed.
Krester Krøger Kjær has taken over as head of Skuld Copenhagen, replacing Helle Lehmann.
Insurance services business Ryan Speciality Group has entered into a deal to buy Navigators' operations in Sweden and Denmark.
Peter Hecht-Hansen has been appointed CEO of Nordics, Russia & Turkey at Allianz Global Corporate & Specialty, subject to regulatory approval.
Law firm Kennedys is expanding its international reach in Europe through agreements with three Scandinavian firms, which come into effect from 1 January 2016.