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English & American Insurance Company Limited |
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Scheme Administrators
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: Darryl Ashbourne (Licensed Insolvency Practitioner) |
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: Michael Tagg (Licensed Insolvency Practitioner) |
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Date of Insolvency
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: 19 March 1993 |
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Date of Scheme
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: 8 February 1995 |
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Date of Amending Scheme
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: 31 August 2000
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Annual Report to Creditors 2022
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: 20 January 2023
: A copy of the Report is available below
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Annual Report to Creditors 2021
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: 12 January 2022
: A copy of the Report is available below
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Annual Report to Creditors 2020
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: 5 January 2021
: A copy of the Report is available below
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Annual Report to Creditors 2019
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: 8 November 2019
: A copy of the Report is available below
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Annual Report to Creditors 2018
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: 10 December 2018
: A copy of the Report is available below
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Annual Report to Creditors 2017
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: 18 December 2017
: A copy of the Report is available below
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Annual Report to Creditors 2016
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: 20 December 2016
: A copy of the Report is available below
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Annual Report to Creditors 2015
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: 10 November 2015
: A copy of the Report is available below
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EAIC final dividend uplift November 2015
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: 10 November 2015
: A copy of the Press Release is available below
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Annual Report to Creditors 2014
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: 18 December 2014
: A copy of the Report is available below
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Annual Report to Creditors 2013
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: 16 December 2013
: A copy of the Report is available below
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EAIC dividend uplift December 2013
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: 13 December 2013
: A copy of the Press Release is available below
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EAIC dividend uplift October 2012
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: 22 October 2012
: A copy of the Press Release is available below
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Annual Report to Creditors 2011
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: 12 December 2011
: A copy of the Report is available below
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Annual Report to Creditors 2009
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: 26 November 2009
: A copy of the Report is available below
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Annual Report to Creditors 2008
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: 10 November 2008
: A copy of the Report is available below
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Current Payment Percentage |
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: 45 percent |
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Background
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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.
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Recent Developments
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In June 2000, the original Scheme was replaced by an Amending Scheme of
Arrangement which became effective in August 2000.
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As at 31 December 2007, EAIC’s 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.
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Scheme Payment Percentage
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The dates and amounts of scheme payment percentage revisions are as follows:
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| Date |
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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% |
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Contact
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Stephanie Wilton |
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PRO Insurance Solutions Limited |
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Southgate House
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Southgate Street
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Gloucester
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GL1 1UB |
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Tel: +44 (0) 1452 782585 |
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To contact the Scheme Administrators' staff:
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Darryl Ashbourne |
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Interpath Ltd |
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10 Fleet Place |
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London
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EC4M 7RB |
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Tel: +44 (0) 20 39892702 |
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Information page here.
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