United Standard Insurance Company Limited
| Date of insolvency: |
15 May 1996 (Provisional Liquidation) 12 June 2003 (Scheme of Arrangement) |
|---|---|
| Appointment holders: | Nigel Rackham Mark Batten |
| Financial information: | Last accounts filed 31 December 2009 |
| Current payment percentage: | Final dividend percentage is 37.94%. Together with the interim dividend of 27%, the total dividend is 64.94%. |
| Key contacts: | Irena Di Re PricewaterhouseCoopers LLP 7 More London Riverside London SE1 2RT Tel: + 44 (0) 20 7213 1736 |
| Company background: |
United Standard Insurance Company Limited ("United") was formed in 1907, writing general insurance and reinsurance business in the London Market. In 1964 it began writing a domestic motor and property and accident account in the UK. United ceased writing casualty business in 1966 but continued writing property business until 1976 and UK domestic business until 1987. Deterioration in the casualty book, principally arising from US environmental pollution and asbestos claims led to insolvency. There are no remaining claims from the London Market property account and very few from the UK domestic book. Further information can be found on the United Standard website. |
| Next steps: | The final dividend will apply to all Scheme Creditors whose claim has been agreed by the Scheme Administrators in the first and final claims Claims Opportunity Deadline in accordance with the Scheme of Arrangement. Such creditors have been notified of the agreement of their claim and received a crystallisation statement. Creditors who have not submitted a scheme claim form by either the first or final Claims Opportunity Deadline do not have the opportunity to submit any further claim. |
Information correct as at: March 2011
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