News archive

In December 2020, the Danish Guarantee Fund has initiated legal actions against several UK insurance companies.

Under section 6 of the Guarantee Fund Act, claims that are to be covered by the Guarantee Fund must be notified to the Guarantee Fund no later than 6 months after the bankruptcy decree was issued on 12 March 2020. Therefore, deadline to report a claim expires on 12 September 2020.

On 29 June 2020, the Danish Financial Supervisory Authority announced that on 26 June 2020, Gefion Insurance A/S' license as an insurance company had been withdrawn.

The Danish Financial Supervisory Authority has instructed the Fund to collect contributions from members of the Guarantee Fund, in order to re-establish the Guarantee Fund’s capital of DKK 300 mio.

The Guarantee Fund for Non-life Insurers is aware that on 26 March 2020, the Danish FSA published a decision regarding Gefion Insurance A/S.

The trustee in the bankruptcy of Qudos Insurance has on 20 December 2019 summoned a number of people and companies connected to the management and owners of Qudos Insurance A/S.

The Central Bank of Ireland has released a statement on their website informing that CBL Insurance Europe DAC has ceased making claims payments with immediate effect.

The trustee in the bankruptcies of both Alpha Insurance and Qudos Insurance has published information regarding remedy claims on Danish motor liability insurance for both insurance companies.

The Danish Financial Supervisory Authority has instructed the Guarantee Fund to continue collecting contributions from members of the Guarantee Fund in 2020, in order to re-establish the Guarantee Fund’s capital of DKK 300 mio.

Policyholders of byggeskadeforsikringer from Qudos Insurance A/S during bankruptcy can request a return of premium via a claim form on Qudos Insurance A/S’s website.

Policyholders of ejerskifteforsikringer from Qudos Insurance A/S under bankruptcy (sold by Frida Forsikring Agentur A/S) can request a return of premium via a claim form on Qudos Insurance A/S’s website.

Under section 6 of the Guarantee Fund Act, compensation claims that are to be covered by the Guarantee Fund must be notified to the Guarantee Fund no later than 6 months after the bankruptcy decree was issued on 20 December 2018. Therefore, deadline to report a claim for compensation expires on 20 June 2019.

As of 1 January 2019 all direct providers of non-life insurance in the EU/EEC which through branches or cross-border services provide (or wish to provide) non-life insurance in Denmark, are obliged to be a member of the Danish Guarantee Fund for Non-Life Insurers

By a decree issued by the Maritime and Commercial Court in Copenhagen on 20 December 2018, Qudos Insurance A/S filed for bankruptcy. In that connection, the Court of Appeal appointed Attorney Boris Frederiksen from Kammeradvokaten/ Poul Schmith as insolvency administrator

By a decree issued by the Maritime and Commercial Court in Copenhagen on 8 May 2018, Alpha Insurance A/S filed for bankruptcy. In that connection, the Court of Appeal appointed Attorney Boris Frederiksen from Kammeradvokaten/Poul Schmith as insolvency administrator.