HC Deb 05 February 1970 vol 795 cc199-200W
Mr. Oakes

asked the President of the Board of Trade why he has ordered the Alpha Insurance Company to suspend business with new customers; and if he will make a statement.

Mrs. Gwyneth Dunwoody

As reports in the Press, based, I presume, on information given to them by the company, have indicated, the Board of Trade placed a restriction on the Midland Northern and Scottish Insurance Company Ltd. because they were not satisfied that the company had the solvency margin required by the Insurance Companies Act, 1958 to 1967.