Kwelm

The KWELM Companies are a group of five insurance companies incorporated in England and Bermuda.

The five companies are Kingscroft Insurance Company Limited, Walbrook Insurance Company Limited, El Paso Insurance Company Limited, Lime Street Insurance Company Limited, and Mutual Reinsurance Company Limited.

In the late 1980s and early 1990s, the companies had doubts about their solvency and with UK and Bermudian courts' approval, entered Schemes of Arrangements with their creditors which allowed them to continue operating and paying their creditors, albeit at a percentage in the dollar.

This article is issued from Wikipedia - version of the Monday, December 31, 2012. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.