Element Insurance AG
The German insurance company ELEMENT Insurance AG, which is based in Berlin, was placed into final insolvency proceedings by the Charlottenburg Local Court on 1 March 2025. Among other things, the company was authorised to underwrite fire insurance, liability insurance and income protection insurance in Denmark.
The Danish Guarantee Fund for Non-Life Insurers covers the company’s Danish policyholders and pays compensation for claims, provided that the claim falls within the scope of coverage of the Danish Guarantee Fund and is submitted to the Danish Guarantee Fund no later than 1 September 2025.
The German Federal Financial Supervisory Authority (BaFin) states that the insurance contracts will expire on 1 April 2025. It is therefore important that you take out new insurance as soon as possible. Through the German insolvency administrator, the Danish Guarantee Fund has sent a notice to Danish policyholders of ELEMENT Insurance AG.
The notice is available here.
All Danish customers of ELEMENT Insurance AG who have an ongoing claim or wish to report a claim that falls within the scope of coverage of the Danish Guarantee Fund are requested to contact the Danish Guarantee Fund for Non-Life Insurers at info@skadesgarantifonden.dk.
The Danish Guarantee Fund also covers policyholders’ premiums paid prior to the bankruptcy order issued on 1 March 2025, subject to a deductible of DKK 1,000 per policy.
If you believe that you are entitled to a premium refund, please submit your claim to the Danish Guarantee Fund as soon as possible at info@skadesgarantifonden.dk.
See also information on the ELEMENT Insurance AG insolvency proceedings.