Folksam International Insurance Company (UK) Limited

Folksam UK was a wholly owned subsidiary of Folksam Holdings (UK) Limited ("Folksam Holdings"), in liquidation since 15 August 2002, which in turn was a wholly owned subsidiary of Aterforsakring AB Luap ("Luap"), a company incorporated in Sweden, in liquidation since 22 May 2002. The UK Branch of Luap was placed into provisional liquidation on 1 July 2002. Dan Schwarzmann is the Administrator of Folksam UK, Liquidator of Folksam Holdings and Provisional Liquidator of the UK Branch of Luap. The main business of Folksam UK was international reinsurance, with a small amount of direct business specifically excluding life assurance and motor. The majority of creditors of Folksam UK are other insurance companies and Lloyd's underwriters. Approximately one third of Folksam UK's net underwriting liabilities are in casualty business, with one third in marine and the rest in property and aviation. Folksam UK ceased underwriting and entered run-off on 31 December 1996, and stopped paying claims on 19 July 2002 when Folksam UK was put into administration.

Further information can be found on the Folksam UK website at www.folksam.co.uk.

The Administrator will propose a Scheme of Arrangement pursuant to Section 425 of the Companies Act 1985.

The drafting Scheme has been finalised and significant progress has been made with resolving one outstanding issue which is preventing a Scheme from being distributed.  Subject to final resolution of this issue it is envisaged that the Scheme will be circulated to Creditors in the second half of 2010.