The Danish Financial Supervisory Authority has announced that German insurer ELEMENT Insurance AG was placed under preliminary insolvency administration by the Charlottenburg District Court on 8 January 2025 and is currently not paying compensation for notified claims. A temporary insolvency administrator has been appointed, but the company has not been declared bankrupt and no decision has been taken to open bankruptcy proceedings. ELEMENT Insurance AG is authorised to sell insurance in Denmark via cross-border services, including fire insurance, liability insurance and wage insurance, and the Danish authority points readers to the German Federal Financial Supervisory Authority (BaFin) for further information and a Q&A.
Danish Finanstilsynet 2025-01-31
Danish Financial Supervisory Authority reports ELEMENT Insurance AG placed in preliminary insolvency proceedings and halting claims payments
The Danish Financial Supervisory Authority reported that ELEMENT Insurance AG, a German insurer authorized to operate in Denmark, is under preliminary insolvency administration as of 8 January 2025. A temporary insolvency administrator has been appointed, but no bankruptcy proceedings have been initiated. The authority directs inquiries to the German Federal Financial Supervisory Authority (BaFin) for further details.