Gefion Insurance A/S (“Gefion”), a Denmark-based insurance company entered into insolvency proceedings on 7th June 2021. It is no longer paying claims.
FSCS declared the firm failed (in default) on 7th June 2021 and is stepping in to protect the majority of policies Gefion sold to individuals and small businesses in the UK.
FSCS is working closely with the liquidator and the Danish Financial Supervisory Authority to understand the impact of the bankruptcy. We will continue to update this page with the latest developments.
Latest updates
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07 Jun, 2021
By a decree issued by the Maritime and Commercial Court in Copenhagen, Gefion Finans A/S was placed in bankruptcy. The court appointed Attorney Boris Frederiksen from Poul Schmith and Attorney Søren Aamann Jensen from Accura as the insolvency practitioners.
How is FSCS helping UK customers of Gefion?
FSCS is helping eligible customers by paying claims made against protected policies. These policies and claims must be validated by the appointed insolvency practitioner (Trustees).
For third-party motor claims, the level of our protection is 100%. For other types of motor claims (e.g. own damage), our protection is 90%.
You can find more information on the FSCS protection rules and limits page.
What if I need to make a claim or check the status of an existing claim on my Gefion policy?
If you need to make a claim, follow the instructions set out in your Gefion policy documentation.
We are aware of several outstanding claims/payments.
The insolvency practitioner is working on appointing a new claims handling firm to support ongoing claims. However, when this will happen is not something FSCS can comment on.
With regards to your outstanding payment, the insolvency practitioners are reviewing these outstanding claims and can assist you further. Their email address is ukclaims@gefioninsurance.com.
Is my Gefion Insurance policy still valid?
On 24 March 2020, the Danish Financial Supervisory Authority ordered Gefion Insurance to stop writing new business. As a result, there are no unexpired Gefion policies.
Further information can be found on the DFSA website.
I have a claim against a Gefion policyholder, settlement of which was agreed before Gefion’s bankruptcy. When will I receive payment?
Provided the claim is eligible for FSCS protection (the Gefion policyholder’s vehicle must be UK registered), the payment request will be submitted to FSCS from the claims handler via the Gefion Trustees. There is no need for you to take any further action such as applying for FSCS compensation.
Having worked together with the claims handlers and Gefion Trustees, payments outstanding prior to the firm's bankruptcy on 7th June 2021 should have been paid, apart from cases that were handled by Broadspire.
If you think you are missing a payment, your solicitors should make contact with the Gefion claims handlers they were dealing with.
If the claims were handled by Broadspire the agreed payment should be made from mid-November 2021.
Who is handling my claim following Gefion’s bankruptcy?
Claims were being handled by Indemnis. Indemnis is no longer trading, and we are aware of several outstanding claims/payments.
The insolvency practitioner is working on appointing a new claims handling firm to support ongoing claims. However, when this will happen is not something FSCS can comment on.
With regards to your outstanding payment, the insolvency practitioners are reviewing these outstanding claims and can assist you further. Their email address is ukclaims@gefioninsurance.com.
Who is handling my claim instead of Broadspire following Gefion’s bankruptcy?
Claims formerly handled by Broadspire were transferred to Indemnis. Indemnis is no longer trading, and we are aware of several outstanding claims/payments.
The insolvency practitioner is working on appointing a new claims handling firm to support ongoing claims. However, when this will happen is not something FSCS can comment on.
With regards to your outstanding payment, the insolvency practitioners are reviewing these outstanding claims and can assist you further. Their email address is ukclaims@gefioninsurance.com.
I have a question about a claim against Gefion
Claims were being handled by Indemnis. Indemnis is no longer trading, and we are aware of several outstanding claims/payments.
The insolvency practitioner is working on appointing a new claims handling firm to support ongoing claims. However, when this will happen is not something FSCS can comment on.
With regards to your outstanding payment, the insolvency practitioners are reviewing these outstanding claims and can assist you further. Their email address is ukclaims@gefioninsurance.com.