§ Mr. GardinerTo ask the Chancellor of the Exchequer (1) what discussions his Department has had with the Financial Services Authority during the past year about the publication of negative levels of cash flow and rising profits at Independent Insurance Company; [403]
(2) what discussions the Financial Services Authority has had with KPMG about (a) their role as external auditors of Independent Insurance Company and (b) their assessment of the adequacy of Independent Insurance Company's reserves; [402]
(3) if he will make a statement on the Serious Fraud Office's investigation into the Independent Insurance Company; [401]
(4) what regulations he proposes to instigate through the Financial Services Authority to ensure that all claims against an insurance company are properly entered into the company's accounting system; [420]
(5) on what dates officials from the Financial Services Authority met Mr. Michael Bright in his capacity as chief executive of Independent Insurance Company during the past 12 months; and what matters were discussed. [404]
§ Ruth KellyI understand that, following a referral on 18 June 2001 by the Financial Services Authority, the Director of the Serious Fraud Office has decided to investigate the affairs of the Independent Insurance Company Ltd.
It would be inappropriate for me to comment while there is an investigation in progress.