Investors contemplating taking part in the $50 million IPO of Bermuda-based insurance broker/risk manager Stirling Cooke Brown Holdings Limited, which is 24 per cent owned by Goldman Sachs, may be interested in a few details they will not find in the company’s share prospectus.
Perhaps the most noteworthy is the involvement of its subsidiary Raydon Underwriting Management in one of the world’s largest insurance frauds.
Raydon, which shares offices with Stirling Cooke at Victoria Hall, Hamilton, had the dubious distinction of managing reinsurer North American Fidelity & Guarantee.
Stirling Cooke – What you won’t find in its prospectus
Goldman Sachs controls Stirling Cooke
27 years ago
Topics
Bermuda Fraud Insurance Investment Listed SecuritiesKeywords
Bermuda Insurance Market Goldman Sachs Paul Murray Raydon Underwriting Management Stirling Cooke