21st December 2018
Qudos Insurance A/S has failed
The FSCS has issued the following statement:
Danish-based Qudos Insurance A/S has become the latest firm to fail after FSCS declared it in default on 20 December 2018.
The news comes after a decree was issued by the Maritime and Commercial Court in Copenhagen confirming that the firm had filed for bankruptcy.
Qudos provided a range of insurance policies to the UK retail and commercial market including motor insurance, GAP insurance, accident, sickness and unemployment insurance.
Jimmy Barber, Chief Operating Officer at FSCS, said:
"We are still in the process of identifying how many UK customers are affected by the failure of Qudos Insurance A/S. We are working closely with the liquidators, the Danish Guarantee Fund and the Danish FSA to make sure all those affected by the failure of Qudos are compensated accordingly."
29th November 2018
We regret to advise of news that Qudos Insurance placed itself into liquidation.
The FSCS has released the following statement:
'We are aware the Danish passport firm Qudos Insurance, placed itself into liquidation yesterday. The Firm is still paying claims and is currently of the view that it can meet all its obligations.
We are monitoring the situation along with the FCA and will give you an update once we have more information.'