Walton Insurance run-off moved from Bermuda to UK

By David Marchant

32 years ago

Topics

Bermuda Insurance United Kingdom

Keywords

Bermuda Insurance Market Insurance and Reinsurance Services Ltd. Walton Insurance Ltd.

The run off of Walton Insurance Ltd, a Bermuda-based carrier formerly owned by Phillips Petroleum, is to be transferred to the UK in a cost-cutting move that will lead to the loss of 11 jobs.Announcing the relocation, president Tim Spafford said that a further six jobs will also be axed with the closing of an affiliated Bermuda company, Insurance and Reinsurance Services Ltd — a company that specialised in claims audit services.

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