Fremont Insurance Company (UK) Limited
| Date of insolvency: | 16 October 1992 |
|---|---|
| Effective date of scheme of arrangement: | 10 March 1998 |
| Type of appointment: | Provisional Liquidation/Scheme of Arrangement |
| Appointment holders: | Mark Batten Nigel Rackham |
| Financial information: | Last financial accounts filed 31 December 2001 |
| Final payment percentage: | 38.34% |
| Key contacts: | Nigel Rackham PricewaterhouseCoopers LLP Plumtree Court London EC4A 4HT Tel: + 44 (0) 20 7212 6270 Huw Battrick PricewaterhouseCoopers LLP Plumtree Court London EC4A 4HT Tel: +44 (0) 20 7804 6207 |
| Company background: |
Fremont Insurance Company (UK) Limited ("Fremont") wrote a London Market Property (80%) and Casualty (20%) book from 1980 to 1991 when it was placed into run-off. On 16 October 1992 Provisional Liquidators were appointed. A Scheme of Arrangement ("Scheme") designed to accelerate the run-off by crystallising all liabilities was put into place on 10 March 1998. A first dividend of 25% was paid on 27 August 1999. A second dividend of 5% was paid in June 2000. A third dividend of 5% (i.e. a total of 35%) was paid in August 2001. PwC sold the remaining book debts in early 2003. The final dividend payment of 3.34% was made on 27 June 2003, making a total dividend payment of 38.34%. The Scheme is now closed and the company is now dissolved. |
| Next steps: | All dividends that have not yet been claimed have been passed to The Insurance Charities for a period of five years. Unclaimed dividends after this period will become the property of The Insurance Charities. |
Information correct as at: August 2010
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