Dai Ichi Kyoto Re

Connelly Management Inc., et al v. Ferguson Marketing Group Inc., et al: Judgment Order

March 15, 2006

Judgment Order, Findings of Fact & Conclusions of Law in Connelly Management Inc., Connelly Management Employee Welfare Benefit Plan, James B. Connelly, individually and as a participant under the Connelly Management Employee Welfare Benefit Plan, v. Ferguson Marketing Group Inc., Euan David McNicoll, John Fowler Anderson, Marsh Investment Corporation, McSooner, Inc., Marketrends Financial Services Ltd., Marketrends Insurance, Ltd., Michael Arthur Reeve, Saint John Management Services, Ltd., and Michael Reeve & Associates at the U. S. District Court for the District of South Carolina.

Stockholm Re creditors to receive 30 cents on the dollar

August 31, 2001

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.

Sealed indictment in Dai Ichi Kyoto Re, Kobe Re and North American Fidelity & Guarantee fraud

October 31, 1998

The US Attorney's office has filed sealed indictments against two people believed to have been responsible for one of the world's biggest insurance frauds, involving Dai Ichi Kyoto Re, Kobe Re and North American Fidelity & Guarantee, Offshore Alert can reveal.

USA v. Zenichi Konishi et al: Criminal Indictment

August 25, 1998

Criminal Indictment in USA v. Zenichi Konishi and John Doe, a.k.a. Steven Baker, at the U. S. District Court for the District of Delaware.

North American Fidelity & Guarantee – a Bermuda tragedy

April 27, 1997

A British television programme claiming that a "mysterious Irishman" called Steven Baker was being sought in connection with the worldwide insurance fraud that goes by the name of Dai Ichi Kyoto Re caused a lot of interest in Bermuda. One of Dai Ichi's sister companies, North American Fidelity & Guarantee, had a brief but extremely profitable and very fraudulent one-year trading spell in Bermuda in 1992/1993. The company began life as a shelf company set up in October, 1989, by ambitious Bermuda lawyer Lynda Milligan-Whyte.

NAF&G had no capital, say sources

June 17, 1994

Reinsurer North American Fidelity & Guarantee, which is being sued for $4 million in Bermuda, moved its operations from Bermuda to Belgium in 1993 not long after failing to comply with a request to show proof of its capital, we have been told.And some insurance observers believe the company, which offered property, marine, aviation and mortgage guarantee coverage and claimed to have capital of $100 million, may have actually had very few funds available to meet claims during the year it operated in Bermuda.