Comp Indemnity Reinsurance Company Ltd.

Goldman Sachs controlled Stirling Cooke Brown's problems worsened this month as the firm announced that its reinsurance subsidiary, Comp Indemnity Reinsurance Company Ltd., had become insolvent.News of CIRCL's insolvency was contained in the firm's 10Q filing with the SEC on

Creditors of Stockholm Re (Bermuda) Ltd., which went into liquidation in January, 1995, are likely to receive just 30 cents on the dollar when all is said and done. A spokesman for liquidator Deloitte & Touche in London said that a dividend of 20 cents on the dollar was paid to creditors at the end of May, 2001, with a second dividend due to follow later this year.

Annual statements filed with regulators by Clarendon National Insurance Company are becoming increasingly confusing, not to mention inaccurate in places. Take, for example, its 1996 filing with the New Jersey State Insurance Department, the home regulator for this operating arm of a group that has subsidiaries in Bermuda and the US.