HC Deb 03 November 1909 vol 12 c1950

"This company was registered in 1898 with a nominal capital of £100,000, and was formed to carry on all kinds of insurance business except life assurance. Capital to the amount of £1,882 was issued for cash, in respect of which £1,033 was received by the company.

"The only liquid asset which the company had was the balance at its bank, and this never exceeded £700, and for a considerable period fell below £200.

"Fire and other insurance business was carried on by the company, both in this country and abroad, and the total risks insured exceeded £1,500,000.

"The company was ordered to be wound up in 1905, and in the liquidation the assets realised £14."