Gefion ordered to correct reporting error
Unrated Danish Gefion Insurance has been ordered by the Danish Financial Supervisory Authority to publish information supplementing or correcting the company’s 2018 annual report, after it was adjudged to have wrongly recognised the value of a reinsurance contract on its balance sheet.
Responding to the order, Gefion said that it disagreed with the regulator’s decision saying it was “based on an incorrect assessment of the facts surrounding the conclusion of the reinsurance contract
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