English and American Pools

 
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English & American Insurance Company Limited

  •  
  • Scheme Administrators
     
    : Darryl Ashbourne (licensed by ICAEW)
     
    : Mike Walker (licensed by ICAEW)

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  • Date of Insolvency
     
    : 19 March 1993

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  • Date of Scheme
     
    : 8 February 1995
     
     
  •  
  • Date of Amending Scheme
     
    : 31 August 2000

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  • Annual Report to Creditors 2016
      : 20 December 2016
    : A copy of the Report is available below
    Quick Info
    File Name : Annual Report to Creditors 2016
    Size : 757 KB

    Open: Annual Report to Creditors 2016

  •  
  • Annual Report to Creditors 2015
      : 10 November 2015
    : A copy of the Report is available below
    Quick Info
    File Name : Annual Report to Creditors 2015
    Size : 826 KB

    Open: Annual Report to Creditors 2015

  •  
  • EAIC final dividend uplift November 2015
      : 10 November 2015
    : A copy of the Press Release is available below
    Quick Info
    File Name : 151110- EAIC press release - FINAL
    Size : 80 KB

    Open: 151110- EAIC press release - FINAL

  •  
  • Annual Report to Creditors 2014
      : 18 December 2014
    : A copy of the Report is available below
    Quick Info
    File Name : Annual Report to Creditors 2014
    Size : 826 KB

    Open: Annual Report to Creditors 2014


  •  
  • Annual Report to Creditors 2013
      : 16 December 2013
    : A copy of the Report is available below

    Quick Info
    File Name : Annual Report to Creditors 2013
    Size : 177 KB

    Open: Annual Report to Creditors 2013


  •  
  • EAIC dividend uplift December 2013
      : 13 December 2013
    : A copy of the Press Release is available below

    Quick Info
    File Name : EAIC 48% release
    Size : 76.9 KB

    EAIC 48% release



  •  
  • EAIC dividend uplift October 2012
      : 22 October 2012
    : A copy of the Press Release is available below

    Quick Info
    File Name : EAIC 45% release
    Size : 64 KB

    EAIC 45% release

  •  
  • Annual Report to Creditors 2011
      : 12 December 2011
    : A copy of the Report is available below

    Quick Info
    File Name : Annual Report To Creditors
    Size : 177 KB

    Annual Report to Creditors

  •  
  • Annual Report to Creditors 2009
      : 26 November 2009
    : A copy of the Report is available below

     

    Quick Info
    File Name : Annual Report To Creditors
    Size : 182 KB

    Annual Report to Creditors

  •  
  • Annual Report to Creditors 2008
      : 10 November 2008
    : A copy of the Report is available below

     

    Quick Info
    File Name : Annual Report To Creditors
    Size : 773 KB

    Annual Report to Creditors

     

  •  
  • Current Payment Percentage
     
    : 45 percent
       
  •  
  • Background
     
    English & American Insurance Company Limited (EAIC) is a large UK insolvent London market insurance and reinsurance company. It commenced underwriting in 1929 and wrote many types of policies for insureds and reinsureds, on its own account and as a member of underwriting pools of insurance companies. It provided cover for, amongst other things, marine, aviation and casualty risks. As such, EAIC is exposed to significant amounts of asbestos, pollution and other long tail claims.
  •  
  • Recent Developments
     
    In June 2000, the original Scheme was replaced by an Amending Scheme of Arrangement which became effective in August 2000.
       
    As at 31 December 2007, EAICís estimated total assets and liabilities were approximately UK£288 million (2006 UK£310 million) and UK£624 million (2006 UK£638 million) respectively. The run-off of EAIC is expected to be completed cost effectively by entry into a cut-off scheme within the next one to two years.
       
  •  
  • Scheme Payment Percentage
     
     The dates and amounts of scheme payment percentage revisions are as follows:

    Date   Cumulative
    June 1997 5% 5%
    June 1998 5% 10%
    March 1999 7% 17%
    September 2000 8% 25%
    June 2002 5% 30%
    April 2006 5% 35%
    December 2011 5% 40%
    October 2012 5% 45%
    April 2014 3% 48%

  •  
  • Contact
              Toby Wooldridge
              PRO Insurance Solutions Limited
              Southgate House
              Southgate Street
              Gloucester
              GL1 1UB
       
              Tel: +44 (0) 1452 782641
              Fax: +44 (0) 1452 782582
       
              To contact the Scheme Administrators' staff:
              Fabrizio Maffi
              KPMG LLP
              8 Salisbury Square
              London
              EC4Y 8BB
       
              Tel: +44 (0) 20 7311 8436
              Fax: +44 (0) 20 7311 3126
       

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