Change of ownership for Qudos

Please note that on March 7th, New Nordic Odin Denmark ApS ("New Nordic") completed the purchase of all shares previously owned by Echelon Financial Holdings Inc. ("Echelon") in QIC Holdings Inc. ("QICH"). With this purchase New Nordic has now acquired control of QICH and its wholly-owned subsidiary, Qudos Insurance A/S ("Qudos"). This acquisition is an important milestone for the New Nordic group as it had been targeting a strategic acquisition in the European general insurance sector for a number of years. For Qudos, the acquisition is very welcomed as it reaffirms the company’s…continue reading →

Announcement

Dear All: I am pleased to inform you that on Thursday, August 4th the Board of Directors of Echelon Financial Holdings Inc. ("Echelon") approved an offer from New Nordic Advisors Limited (“New Nordic”) to purchase all outstanding shares of Echelon in QIC Holdings ApS ("QIC"). QIC is the sole owner of all outstanding shares of Qudos Insurance A/S (“Qudos”) and with this purchase New Nordic will acquire control of Qudos. New Nordic is a European investment management group with expertise in the general insurance and a strong desire to expand Qudos business development…continue reading →