HC Deb 17 June 1971 vol 819 cc139-40W
Mr. Carter

asked the Secretary of State for Trade and Industry if he is satisfied with the present situation where his Department is unaware of the number of policyholders covered by the motor insurance companies; and if he will make a statement.

Mr. Ridley

For the purpose of assessing an insurance company's solvency our predecessors did not consider it necessary to require a return of the number of policyholders (which anyway fluctuates from day to day) but this matter is being reconsidered during the course of the current review of existing insurance legislation.

Mr. Carter

asked the Secretary of State for Trade and Industry if he will list in the OFFICIAL REPORT the motor insurance companies which went into liquidation in the period June, 1961 to June, 1971, with their losses and numbers of policyholders affected.

Mr. Ridley

I circulate the list below. As I stated on 14th June, the number of policyholders is not recorded, but the total for the companies listed is estimated at about 2 million. It is not practicable to state the amount of the losses.

Following is the information:

Motor insurance companies which failed between 1st January, 1961 and 15lh June, 1971:

  • Brandaris Insurance Co., Ltd.
  • American Military International Insurance Association.
  • First General Assurance and Guarantee Co., Ltd.
  • Coventry Insurance Co., Ltd.
  • Fire, Auto and Marine Insurance Co., Ltd.
  • London and Cheshire Insurance Co., Ltd.
  • Irish American Insurance Co., Ltd.
  • London and Midland Insurance Co., Ltd.
  • Gibraltar Insurance Co., Ltd.
  • London and Home Counties Insurance Co., Ltd.
  • London and Wessex Insurance Co., Ltd.
  • Metropolitan and Northern Counties Insurance Co., Ltd.
  • South Yorkshire Insurance Co., Ltd.
  • Craven Insurance Co., Ltd.
  • Industrial Life and General Insurance Co. Ltd.
  • Carriage Insurance Co., Ltd.
  • Midland, Northern and Scottish Insurance Co., Ltd.
  • Vehicle and General Insurance Co. Ltd. and four subsidiaries:
  • Automobile and General Insurance Co. Ltd.
  • General and Commercial Motor Guarantee Co., Ltd.
  • Metropolitan General Insurance Co., Ltd.
  • Transport Indemnity Insurance Co., Ltd.
  • Competitive Insurance Company, Ltd.