Copenhagen, Denmark, July 25, 2017—Gefion Insurance A/S (“Gefion” or the “Company”), a Copenhagen-based specialty non-life insurer, today announced that it closed a private placement of Solvency II-compliant subordinated notes in an aggregate principal amount of €10 million with funds managed by Fermat Capital Management, LLC.
The net proceeds from the offering will be used to support Gefion’s attractive growth opportunities in the European specialty non-life insurance market, to refund the Company’s existing subordinated debt, and for general corporate purposes.
Tonny Anker-Svendsen, Gefion’s CEO said, “We are excited to partner with Fermat, one of the highest-quality investors in the (re)insurance space, on this transaction. We believe their commitment validates the strength of our innovative business model and our ability to source profitable growth opportunities in the European specialty market.”
TigerRisk Capital Markets & Advisory acted as advisor to Gefion in the transaction, and Gorrissen Federspiel acted as counsel to Gefion.