Kingscroft Insurance Company Limited
Walbrook Insurance Company Limited
El Paso Insurance Company Limited
Lime Street Insurance Company Limited
Mutual Reinsurance Company Limited

The five companies known collectively as KWELM are insurance companies incorporated in England (other than Mutual, which is incorporated in Bermuda).

In the context of the Scheme of Arrangement the KWELM Companies are also referred to as the "Scheme Companies".

A "Scheme of Arrangement" is a binding compromise under section 425 of the United Kingdom Companies Act 1985 and section 99 of the Companies Act 1981 of Bermuda. Once a Scheme is approved by the majority of its creditors and the court it is binding on all creditors.

This website is designed to offer information relating to the KWELM companies, the KWELM Scheme of Arrangement and the closure of the KWELM estates.

Through the use of the various "tabs", information can be found relating to the history of the KWELM companies and Documents, ranging from the annual reports to the Scheme Document.

Additionally, if the website does not offer what you are looking for, the Contacts tab gives details of how to contact us.

The KWELM companies have relocated from John Stow House to America House, 2 America Square, London, EC3N 2LU and have closed their New York office.

All correspondence should now be sent to:

The KWELM Companies
c/o KMS Insurance Management Limited
America House
2 America Square
London
EC3N 2LU


Further contact details are given in the Contacts tab.

The Scheme Document, dated 5 December 2003, containing proposals for the Amending Scheme of Arrangement is published in the Documents tab. Hard copies or a cdrom version can be obtained from the KWELM creditor helpdesk at the address shown in the Contacts tab.

The Amending Scheme was overwhelmingly approved by Scheme Creditors at meetings in January 2004 and sanctioned by the Courts in London and Bermuda in February 2004; it became effective on 2 April 2004. The Bar Date, by which the Scheme Administrators must have received details of your claim and ALL supporting information, was 23.59 GMT on 29 September 2004 and has now passed.

Following the payment of the Substantial Closure Distribution in December 2005, the Scheme Administrators have declared revised Payment Percentages as follows:

Payments at the newly revised percentages were made to eligible Scheme Creditors of Kingscroft, Lime Street and Mutual, net of previous payments and subject to the cap of 100% on aggregate Scheme and Adjusting Payments under clause 3.3.2 of the Scheme, in July 2009.

Payments of interest under clause 3.3.3 of the Scheme were made to eligible Scheme Creditors of Walbrook and El Paso during October 2006 and a further payment of interest was made in July 2009.

The Scheme Administrators expect to make a further small Ultimate Distribution of between one and two percent within the next two to three years.