The Danish Financial Supervisory Authority has not approved Gefion Insurance’s recovery plan and therefore ordered the company to stop writing business. The Danish Financial Supervisory Authority has also ordered the company to recognize impairment losses on receivables from three of the company’s agents.

The Danish Financial Supervisory Authority has ordered the company not to expand its scope of business.

The Danish Financial Supervisory Authority has ordered the company to have liquid assets of at least EUR 5 mill. by end of December 2019.

As part of the ongoing inspection in Gefion Insurance A/S, the Danish Financial Supervisory Authority has ordered the company not to use the adjustment for the loss-absorbing capacity of deferred taxes in the calculation of the Solvency Capital Requirement.

The Danish Financial Supervisory Authority (“Danish FSA”) has on 29 April 2019 decided to issue an order and reprimand to Squarepoint Ops LLC for violation of Article 9 of the European Parliament and Council Regulation (EU) No 236/2012 on short selling and certain types of credit default swaps (the short selling regulation).

On 4 March 2018, the Danish Financial Supervisory Authority has ordered Alpha Insurance A/S (hereafter Alpha Insurance) to cease writing any new business including renewal of existing contracts and business ceded 100 percent. The Danish Financial Supervisory Authority has 31 May 2018 withdrawn Alpha Insurance’s license.

On 27 February 2018, the Danish Financial Supervisory Authority has ordered Alpha Insurance A/S to reduce the value of two receivables by a total amount of DKK 35.6 million.