Qudos Insurance A/S goes into solvent liquidation
The investment company New Nordic Holding (New Nordic), who purchased the insurance company Qudos Insurance A/S (Qudos) in March 2017, today decided to place Qudos into solvent liquidation. This has happened after a comprehensive review of the insurance company's situation. Under the New Nordic’s ownership, the new management in Qudos initially succeeded in establishing a profitable business, but this was unfortunately not enough to counter the losses from the old business. The losses were found to be greater than expected and not of a transient nature. Despite extensive restructuring, three capital injections and…continue reading →