Martin Hoffman

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Martin Hoffman sentenced to 33 months in prison

June 7, 2006
A broker who has been active in the Bermuda insurance market for many years has been sentenced to 33 months in prison in the United States for defrauding the New York-based Clarendon Insurance Group. Martin Hoffman, of Bal Harbour, Florida, is due to begin serving his prison-term on October 2, 2006. He was also ordered to pay restitution of $4,222,182 to Clarendon at his sentencing hearing at the U. S. District Court for the Southern District of New York on May 15, 2006.

Insurance broker Martin Hoffman pleads guilty to fraud

November 4, 2005
A United States based broker who has been active in the onshore and offshore insurance markets for many years has pleaded guilty to one count of mail fraud.Martin Hoffman changed his plea from not guilty to guilty on one count

Martin Hoffman criminally indicted in New York

November 30, 2004
A broker who once threatened to sue OffshoreAlert for libel and who has been active in the Bermuda market has been indicted for allegedly defrauding the Clarendon Insurance Group of $9 million and causing it $20 million of losses from

Clarendon America obtains judgment against Ray Stocks in $40 m fraud action

April 30, 2003
Clarendon America Insurance Company has obtained a default judgment against one of four defendants accused of causing the insurer damages of at least $40 million due to fraud.Judgment was entered against Lyndal Ray Stocks, a.k.a. Ray Stocks, of Houston, Texas, on February 7, 2003 at New York State Supreme Court. The court has yet to order a penalty.The case against co-defendants Eton Management Corp., registered in Delaware but based in New York; Martin Hoffman, of Bal Harbor, Florida; and his son, Wade Hoffman, of New York, is ongoing.

Clarendon America/Eton Management involved in premiums dispute lawsuit

April 30, 2001
Clarendon America Insurance Company is suing two US Virgin Islands-based brokers for $2.92 million of premiums that were allegedly sent to a firm controlled by Martin Hoffman, instead of to Clarendon. The lawsuit was filed against Marshall & Sterling of St. Thomas Inc, d.b.a. Theodore Tunick & Co., and Marshall & Sterling of St. Croix Inc. at the US District Court for the District of Delaware on July 14, 2000 before being transferred to Federal Court in US Virgin Islands on April 10, 2001.

Martin Hoffman Interview: Part Three

November 30, 2000
InsideBermuda continues this month with the third installment of our in-depth interview with New York-based businessman Martin Hoffman, who has attracted his fair share of publicity since he entered the insurance industry in the 1960s and has been an active participant in the Bermuda market.

Martin Hoffman discusses his sometimes controversial past

September 30, 2000
American businessman Martin Hoffman has attracted his fair share of publicity in his long career in the insurance industry, which began in the 1960s and has covered markets in the United States, the UK, Bermuda and around the world. Over the next few editions, Inside Bermuda will serialize a comprehensive interview that we conducted with Hoffman in which he addresses several controversial incidents that he has been linked with, including the collapse of US firms Kenilworth Insurance and Cadillac Insurance and the operations of Barbados-based Towers International Re/Knightsbridge International Re. Since December of 1994, Hoffman has been the President of New York-based Eton Management Corporation, which is engaged in a broad range of insurance and reinsurance activities, including the management of an International Marine and Property Program. Prior to founding Eton Management, he ran MIH Consultants, which provided consulting, administrative, software development and processing for small and medium-sized insurance companies and agents. Early in his career, Hoffman was hired to head the Reinsurance Audit Staff at Norman Reitman & Company, an international insurance accounting firm specializing in reinsurance and CIGNA British Companies and Bermuda Reinsurers. After he left Norman Reitman & Company, Hoffman was retained by a London brokerage firm where he was responsible for all accounting activities related to the brokerage firm's business underwritten by production sources in the United States on behalf of Lloyd's of London.

Say it ain’t so: Martin Hoffman solicits reinsurance in Bermuda

January 31, 2000
Dubious businessman Martin Hoffman has been soliciting reinsurance in Bermuda recently as a representative of First American Insurance Co., operating from New York, OffshoreAlert can disclose. And he is also operating another New York-based company called Wilton International Corporation, which describes itself as "a managing general underwriter and program manager that underwrites and manages international facultative property and marine business".

New-look Clarendon ends Eton Management contract

October 31, 1999
The Clarendon Insurance Group has terminated a substantial business production agreement with New York-based Eton Management, which is run by notorious businessman Martin Hoffman.

Lawsuits brought against Clarendon, Martin Hoffman and Eton Management

August 31, 1998
Further allegations of wrongdoing against entities involving Clarendon Insurance Group Managing General Agent Martin Hoffman and Clarendon itself are contained in two US lawsuits currently awaiting trial. Both actions were filed at the United States Bankruptcy Court for the Southern District of New York by the administrators of Qualis Care L. P., which is currently in bankruptcy.

More trouble for Clarendon Insurance and Martin Hoffman new lawsuit filed in New York

July 31, 1998
Clarendon National Insurance Company, Eton Management and Martin Hoffman have all been named as defendants in a lawsuit filed on June 15, 1998 in New York Southern Bankruptcy Court by Qualis Care LP, an entity owned by Hoffman that is currently in administration. Last year, the same plaintiff brought an action in the same court against Hoffman's Barbados-based Knightsbridge International Reinsurance company: a case that is currently awaiting trial.

Mystery over Clarendon’s dubious producer

March 31, 1998
Anyone doing business with the Clarendon Insurance Group should take a close look at further evidence we have obtained which clearly shows that either a senior officer of the group is lying about its relationship with a dubious business producer or the producer is submitting fraudulent documents to the London insurance market. Either way, the Clarendon officer who may have lied to us, Thomas Corteville, vice president/financial operations of Clarendon National Insurance Company, seemed more concerned with attacking this newsletter than analyzing the facts.

Clarendon’s dubious business producers

December 30, 1997
Rating agencies who have ‘A' rated the Clarendon Insurance Group, which has companies in the US and Bermuda, might want to take a close look at some of the third-party insurers who are producing business on the group's behalf.Of particular interest should be the business production relationships Clarendon has with New York-based Eton Management and Deep South Surplus General Agency, which is headquartered in Las Colinas, in the Dallas area.

Credibility concerns hold up Resource Underwriters

October 31, 1997
Concerns about the credibility of some of the people involved are holding up the formation in Bermuda of Resource Underwriters, a new $300 million reinsurer whose front-man is Robin Spencer-Arscott.