Bermuda Fire & Marine insolvent by $1.4 billion

By David Marchant

27 years ago

Topics

Fraud Insurance Investment Listed Securities

Keywords

BF&M Charles Collis Conyers Cooper & Lines Donald Lines

Ernst & Young Gregory Haycock HS Weavers William Cox

[ 4 more... ] [ top 5 ]

Bermuda Fire & Marine Insurance Company, which was stripped of over $40 million of assets two years before it went bust without Bermuda’s regulators so much as batting an eyelid, is now estimated by its liquidators to be insolvent by an astonishing $1.4 billion. If the figures are accurate, Bermuda Fire would become not only by far the biggest insolvency in Bermuda’s history but also one of the biggest insurance insolvencies anywhere in the world.

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