HS Weavers

Compagnie Européenne d’Assurances Industrielles S.A.: Chapter 15 Petition (England)

June 28, 2007

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Clive Paul Thomas, as the Foreign Representative of Compagnie Européenne d'Assurances Industrielles S.A., described as a Belgium-domiciled insurer whose "primary function was to underwrite business relating to the Petrofina Group", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Bermuda Fire & Marine sues to enforce arbitration award

August 31, 2004

Bermuda-based companies are among 14 insurers who have filed a petition to enforce arbitration awards totaling $1.2 million against two New York-based firms.The action concerns unpaid reinsurance claims from the failed United Kingdom-based underwriting pool known as H. S. Weavers (Underwriting) Agencies Limited, which stopped underwriting in 1990.

Bermuda Fire & Marine liquidators disclose terms of 1999 litigation settlement

March 31, 2004

The liquidators of Bermuda Fire & Marine Insurance Company have disclosed that they received $50 million as settlement of one of the most high profile lawsuits in the island's history.However, $24 million of that went to cover fees and costs

Bermuda Fire & Marine Insurance trial hears accusations of fraud

May 31, 1999

The Bermuda Fire & Marine Insurance trial began, as scheduled, on May 4 and most of the rest of the month was spent hearing allegations of lies, deceit and fraud against people who were at one time considered to be among the crème de la crème of the local business community.

Bermuda Fire & Marine liquidators rejected $10-$15 m offer to settle lawsuit

July 31, 1998

Defendants in a fraud lawsuit involving Bermuda Fire & Marine Insurance Company made an offer last year of between $10 million and $15 million to settle the case, OffshoreAlert can reveal. However, Bermuda Fire's liquidators, Ernst & Young, rejected the offer on the grounds that it fell substantially short of what was acceptable, said a source whose company is owed money by Bermuda Fire.

Bermuda Fire & Marine insolvent by $1.4 billion

July 30, 1997

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.

BF&M liquidators bring first lawsuit

May 19, 1994

The joint provisional liquidators of Bermuda Fire & Marine Insurance have brought their first legal action in Bermuda since they were appointed six months ago, filing an application to be appointed receivers of Bermuda London Underwriting Agency Ltd.

DTI issues ‘Bermuda warning’ after collapse of Bermuda Fire & Marine

March 24, 1994

The Department of Trade & Industry's warning to UK insurers about taking out reinsurance in Bermuda is a direct result of the collapse of Bermuda Fire & Marine, Lloyd's List newspaper has reported.

Bermuda Fire chairman criticizes DTI

November 9, 1993

Bermuda Fire and Marine Insurance chairman Charles Collis says responsibility for regulatory compliance by the company's UK subsidiary was the job of H S Weavers.