§ Mr. CousinsTo ask the President of the Board of Trade what inquiries the Serious Fraud Office has carried out(a) on its own behalf and (b) on the behalf of non-United Kingdom police and regulators into the affairs of Dai Ichi Kyoto, Kobe Reinsurance, North America Fidelity and CRM Insurance Services. [16946]
§ Mr. Nelson[holding answer 24 February 1997]: I understand that it is the policy of the Serious Fraud Office not to give operational details of inquiries it may make or be asked to make pursuant to mutual legal assistance arrangements relating to alleged fraud.
§ Mr. CousinsTo ask the President of the Board of Trade how many managing agents for reinsurers are located in the United Kingdom. [16942]
§ Mr. Nelson[holding answer 24 February 1997]: A figure for the number of managing agents of reinsurance companies is not readily available.
§ Mr. CousinsTo ask the President of the Board of Trade (1) what investigations his Department has carried out into the London managing agency CRM Insurance Services; and what conclusions were reached; [16945]
(2) what investigations his officials have carried out into the reinsurance companies, Dai Ichi Kyoto, Kobe Reinsurance and North American Fidelity; and what conclusions were reached. [16947]
§ Mr. Nelson[holding answers 24 February 1997]: My Department will always consider carefully any information brought to its attention which may be relevant to its regulatory responsibilities for insurance; but it is the Department's policy not to confirm or deny whether it has carried out an investigation into the affairs of particular companies.
§ Mr. CousinsTo ask the President of the Board of Trade (1) which bodies have regulatory responsibility for the London reinsurance industry and its managing agencies; and by what means they report to Parliament; [16943]
(2) what recent reviews he has conducted of the regulation of United Kingdom managing agents for offshore reinsurers. [16941]
§ Mr. Nelson[holding answers 24 February 1997]: Reinsurance companies which carry on insurance business in the United Kingdom in the terms of the Insurance Companies Act 1982 are required to be authorised and regulated by the Secretary of State for Trade and Industry, who is directly accountable to Parliament. Managing agents are not subject to regulation separate from that applied to the reinsurance company or companies they 251W represent. Agents who are registered brokers are, however, subject to control by the Insurance Brokers Registration Council, which is an independent statutory body. There is no requirement on it to report to Parliament but the Secretary of State has responsibility for approving its rules and for the appointment of five of the 17 members of the Council. Members of Lloyd's and Lloyd's managing agents are regulated by the Council of Lloyd's under the Lloyd's Acts 1871 to 1982.
My Department is currently considering what, if any, further measures might be appropriate in relation to the provision of insurance in the UK by overseas reinsurers or insurers which are neither authorised under UK legislation nor entitled to provide insurance in the UK on a services basis on the basis of an authorisation issued in another European Economic Area member state.
Success rates percentage AFRC project1 AFRC programme1 BBSRC project1 BBSRC programme1 SERC EPSRC ESRC1 MRC project1 MRC programme1 NERC2 PPARC1 1979 45 1980 41 1981 33 1982 37 1983 58 31 1984 51 39 1985 54 35 1986 26 53 29 1987 36 44 34 1988 40 50 30 37 1989 33 47 29 40 1990 27 35 34 39 1991 33 36 27 40 1992 30 34 40 27 35 1993 32 31 38 24 30 62 27 1994 30 28 37 20 26 36 23 50 1995 24 36 44 27.5 30 59 23 60 1996 334 42 1 Data are for financial years. 2 NERC does not classify grants as project/programme. The figures given are for non-thematic grant applications. 3 Provisional.