Kingscroft Insurance Company Limited
     (formerly Kraft Insurance Company Limited,
      Dart and Kraft Insurance Company Limited
      and Dart Insurance Company Limited)
Walbrook Insurance Company Limited
El Paso Insurance Company Limited
Lime Street Insurance Company Limited
     (formerly Louisville Insurance Company Limited)
Mutual Reinsurance Company Limited

The companies were subsidiaries of the insolvent London United Investments Plc (in Administration), carrying on business principally through HS Weavers (Underwriting) Agencies Limited and CR Driver & Co Limited.

The KWELM companies specialised in underwriting US Casualty, Professional Indemnity and other liability business from as early as 1972. At various dates between 31 December 1987 and 24 March 1990 they ceased underwriting and four of the companies introduced a moratorium on the payment of claims on 19 March 1990; the fifth company, Walbrook, did so on 29 May 1992. They are no longer authorised to underwrite any Insurance business.

Each of the companies has been declared insolvent, having insufficient assets to meet all its liabilities, including estimated future claims. Ian Bond and Chris Hughes were appointed as Joint Provisional Liquidators of KELM on 2 and 3 March 1992 and Walbrook on 4 August 1992. The Joint Provisional Liquidators spent just over a year developing the original Scheme of Arrangement, which was sent to creditors in September 1993 and approved by substantial majorities on 17 November 1993. The original Scheme of Arrangement was approved by the courts in England and Bermuda and became effective on 15 December 1993, at which time Ian Bond and Chris Hughes were appointed Scheme Administrators. This Scheme of Arrangement is referred to as the "Original Scheme" and provided for the orderly run-off of the KWELM companies.

A Document containing proposals for an Amending Scheme of Arrangement was sent to creditors on 12 December 2003, and can be found under the Documents section of this website. These proposals included a process to value all unagreed and future claims and to pay final distributions to all creditors. They were overwhelmingly approved by Creditors at Meetings on 29 January 2004, and sanctioned by the courts in England and Bermuda in February 2004. A court hearing was held in New York (on 31 March, 2004) to obtain a revised S304 Permanent Injunction Order. Copies of the court orders are included in the Documents tab.

The Amending Scheme became effective on 2 April 2004 and 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.

Ian Bond retired as a Scheme Administrator on 31st March 2007, and Chris Reynolds' appointment as Scheme Administrator in his place was ratified at the Creditor's meeting held on 15 May 2007.

The run-off of the KWELM companies is managed by KMS Insurance Management Ltd. ("KMSIM").

Protected Scheme Creditors should continue to present their claims to KMSIM as they mature.