Sunday, 4 March 2018

Alpha Insurance A/S placed in solvent liquidation



Effective immediately, Alpha Insurance A/S has ceased all underwriting, including renewals. This decision is a direct consequence of CBL Insurance Limited, one of Alpha Insurance’s largest reinsurers, having had their A.M.Best “A-“ rating suspended and has been placed into interim liquidation.

As such, the Board of Directors of Alpha Insurance A/S decided on Saturday, March 3rd, to cease all underwriting of new business as well as renewals with immediate effect. On Sunday, March 4th, the General Assembly of Alpha Insurance A/S decided to place the company into solvent liquidation. This means that Alpha Insurance A/S as from this date will be in run-off. The company is solvent, and we therefore expect that all present and future obligations will be honored. Claims will be paid and all policies in force will remain so until their contractual expiry. We can confirm that Alpha Insurance continues to operate and all policies in force will be served as has been the case up to today.

https://alphagroup.dk/

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