§ Mr. Carterasked the Secretary of State for Trade (1) if he is satisfied that all insurance companies are in compliance with every aspect of the law;
(2) if he will seek powers to ensure that those insurance companies which are late in filing their annual returns cease trading until such returns are made.
§ Mr. Clinton DavisThe Insurance Companies Acts and the regulations made under them place complex and detailed obligations on insurance companies. We seek full compliance but we need and have discretion to deal with particular cases of difficulty on their merit. Where a company is late in submitting annual returns or has failed to meet an obliga-
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Year Name Class of business* 1964 CSM Insurance Co. Ltd MAT 1966 Argo Insurance Co. Ltd MAT Axe Insurance Co. Ltd. MAT Colmore Insurance Co. Ltd. Never traded Fire Auto & Marine Insurance Co. Ltd MV Midland Mutual Fire Insurance Society Ltd. PROP Oceanic & Mediterranean Insurance Co. Ltd MAT Shares Insurance Co Never traded 1967 Gibraltar Insurance Co. Ltd MV Irish American Insurance Co. Ltd. MV London & Cheshire Insurance Co. Ltd MV London & Home Counties Insurance Co. Ltd MV London & Midland Insurance Co. Ltd. MV London & Wessex Insurance Co. Ltd. MV Metropolitan & Northern Counties Insurance Co. Ltd. MV South Yorkshire Motor Insurance Co. Ltd. MV 1968 Industrial Life & General Insurance Co. Ltd MV Northern & Employers Assurance Co. Ltd. Holding company only 1970 Carriage Insurance Co. Ltd MV Darwen & District Mutual Plate Glass Insurance Society PROP Insurance Company of Holland (1859) MAT Midland Northern & Scottish Insurance Co. Ltd MV National Deposit Guarantee Association Ltd PL 1971 British Trawlers Reinsurance Association MAT Cheque Indemnity Ltd. PL Competitive Insurance Co. Ltd OLT, LIAB, MV, PL, PROP ELAC Insurance Co. Ltd LIAB, MAT, MV, PL, PA, PROP General & Commercial Motor Insurance Co. Ltd. MV Automobile & General Insurance Co. Ltd. MV Hull Mutual Steamship Protecting Insurance Society Ltd. MAT Isle of Wight Mutual Plate Glass Insurance Society Ltd. PROP Law Accident Insurance Society Ltd. LIAB, MAT, MV, PL, PA, PROP Metropolitan General Insurance Co. Ltd MV Oldham Tradesman's Insurance Co. Ltd OLT, PROP South of England Mutual Plate Glass Insurance Co. Ltd. PROP Tamworth & District Mutual Plate Glass Insurance Assn. PROP Transport Indemnity Insurance Co. Ltd MV Uttoxeter Mutual Plate Glass Insurance Association PROP Vehicle & General Insurance Co. Ltd. LIAB, MAT, PL, PA, PROP Western Assurance Co. Ltd PROP 1972 Burnley & District Mutual Plate Glass Insurance Co. Ltd. PROP Huddersfield Mutual Plate Glass Insurance Co. Ltd. PROP Tugowners Mutual Insurance Association MAT Union Accident Insurance Co. Ltd MV, PROP 1973 Southend-on-Sea Tradesmen's Mutual Plate Glass Insurance Co. Ltd PROP tion under the Acts, various powers of intervention are available in the interests of policyholders, including a notice of intention to restrict new business. The powers chosen depend on the circumstances of the case, however, and it would not be appropriate to serve such a notice where, for example, lateness in submitting a return is due to matters outside the company's control.
§ Mr. Carterasked the Secretary of State for Trade if he will publish in the OFFICIAL REPORT a complete list of those insurance companies which (a) have gone into liquidation; and (b) those which have ceased trading over the past 10 years together with their field of activity.
§ Mr. Clinton DavisThe following insurance companies have gone into liquidation during the past 10 years:
171WParticulars of insurance companies that ceased trading in the earlier part of the 10-year period are not readily available. The Department's annual reports from
Name Class of business* Agrippina Insurance Co. Ltd. (West Germany) LIAB, MAT, MV, PL, PA, PROP Al Ahleia SAK (Kuwait) LIAB, MAT, MV, PL, PROP Alpha Marine Insurance Co. Ltd. (Norway) MAT Alpina Insurance Co. Ltd. (Switzerland) MAT (Les) Assurances Nationales—Vie (France) OLT Baloise Fire Insurance Co. Ltd. (Switzerland) LIAB, MAT, MV, PL, PA, PROP Bastion Insurance Co. Ltd OLT, LIAB, MAT, MV, PL, PA, PROP Bideford and District Mutual Plate Glass Insurance Assn. PROP British Merchants Insurance Co. Ltd. LIAB, MAT, MV, PL, PA, PROP City Fire Office Ltd LIAB, MAT, PL, PA, PROP Cunard Insurance Ltd. MAT Equitable Life Assurance Society of the United States (USA) OLT FGU Insurance Corporation (Philippines) LIAB, MAT, PL, PROP Falcon Insurance Co. Ltd MV Fleetwood Trawlers Mutual Insurance Assn. Ltd MAT General of Berne Insurance Co. (Switzerland) MAT General Insurance Company of Cyprus OLT General Insurance Co. of Helvetia Ltd. (Switzerland) MAT Grimsby Mutual Compensation Fund Ltd LIAB Grimsby Steam Fishing Vessels Mutual Insurance & Protecting Co. Ltd MAT Helvetia-Accident Swiss Insurance Co. Ltd. (Switzerland) LIAB, MAT, PL, PA, PROP Hindusthan General Insurance Society Ltd. (India) MAT, MV, PA, PROP Hull Steam Trawlers Mutual Insurance & Protecting Co. Ltd MAT Insurance Company of East Africa (Kenya) PL, PROP Leicester and District Mutual Plate Glass Insurance Association PROP Lincolnshire Steam Trawlers' Mutual Insurance and Protecting Co. Ltd MAT (La) Minerve Insurance Co. Ltd. (France) LIAB, PROP Mutual Life Insurance Co. of New York (USA) OLT Nye-Danske Insurance Co. of Copenhagen (Denmark) MAT Oceanus Mutual Underwriting Assn. Ltd MAT Pilot Assurance Co. Ltd OLT Scottish & Commonwealth Insurance Co. Ltd LIAB, MAT, MV, PA, PROP Seven Provinces Insurance Co. Ltd. (Netherlands) LIAB, MAT, PA, PROP Shipowners Mutual Strike Insurance Association Ltd. MAT Skandia Reinsurance Co. Ltd. (Sweden) MAT, PROP Southern Life Association of Africa (South Africa) OLT Stuyvesant Insurance Co. (USA) MAT Through Transit Marine Mutual Assn. Ltd. MAT Triton Insurance Co. Ltd. (India) MAT, PROP Undeb Insurance Ltd MV, OLT, PROP Union & South West Africa Insurance Co. Ltd. (South Africa) MV, PA, PROP United Kingdom Mutual Steamship Assurance Assn. Ltd. MAT Vanguard Insurance Co. Ltd. (Australia) OLT Widnes Hospital Scheme PL, PA Wurtemberg Fire Insurance Co. Ltd. (West Germany) LIAB, MAT, MV, PL, PA, PROP
* Classes of business:— LIAB … … Liability insurance business. MAT … … Marine, aviation and transport insurance business. MV … … Motor vehicle insurance business. OLT … … Ordinary long-term insurance business. PL … … Pecuniary loss insurance business. PA … … Personal accident insurance business. PROP … … Property insurance business.