Broker CRL had found a replacement insurer to take on almost 30,000 Alpha policies, but the potential suitor has raised “several last-minute issues” that are holding up a deal.
Homeserve Lab’s Leakbot is currently live and working with a wide range of insurers in the UK, Europe and the US. Post spoke to the company’s non-executive chair, former Axa UK CEO and Prudential UK and Europe CEO Mark Wood, to hear about its plans for…
This week the best and brightest in the insurance community gathered in the Royal Albert Hall for the 25th British Insurance Awards.
The Danish Financial Supervisory Authority has ordered Gefion to not expand into new territories.
Premium finance providers Premfina and Close Brothers will continue funding Gefion premiums following the unrated insurer’s tussles with the Danish regulator, as Premium Credit pulls out.
CRL is making “good progress” in talks to move its Alpha policyholders over to another insurer and has seen its deadline pushed back.
The Danish Financial Supervisory Authority has pegged Gefion’s solvency ratio as just 105% at May 2019, rather than the 130% the company has claimed.
BCR Legal Group appointed representative CRL failed to find an insurer to take on its Alpha policies by the May deadline set by the Financial Services Compensation Scheme, but it has been given more time as the firm has a replacement in its sights.
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.