Gefion Insurance A/S has failed
The Financial Services Compensation Scheme (FSCS) declared that Gefion Insurance A/S (“Gefion”) failed today 7 June 2021.
FSCS is working closely with the liquidator and the Danish Financial Services Authority to understand the impact of the insurance firm’s failure.
Gefion sold a range of private motor insurance, taxi insurance, fleet insurance and courier insurance products in the UK through a network of managing general agents and insurance brokers.
FSCS would urge anyone who is unclear about whether their insurance policy was backed by Gefion to contact the insurance broker who sold them their insurance policy immediately for confirmation.
FSCS is stepping in to protect most of the motor insurance policies that Gefion sold to individuals and small businesses in the UK.
Sarah Marin, Interim Chief Customer Officer at FSCS, said:
“We are in the process of identifying how many UK customers are affected by the failure of Gefion Insurance. We are working closely with the liquidators to make sure that all eligible policyholders affected by the failure of Gefion are protected.
“FSCS will protect the majority of UK-based customers of Gefion who are individuals or small businesses with an annual turnover of less than £1m. We want to reassure Gefion’s UK customers that their claims will continue to be considered against policy terms and that we will be stepping in to protect eligible customers in accordance with our rules for protection.”
Policyholders should check the FSCS website for updates at www.fscs.org.uk/failed-firms/gefion/
James Tweed T: 020 7375 8646
Anthony Ozimic T: 020 7375 8638