The administrator for the longstanding schemes of arrangement for the insolvent London Market "KWELM companies" (Kingscroft Insurance Company Limited, Walbrook Insurance Company Limited, El Paso Insurance Company Limited, Lime Street Insurance Company Limited, and Mutual Reinsurance Company Limited), is finally preparing to wrap up. Walbrook and El Paso previously paid all outstanding claims. On September 30, 2012, the remaining three KWELM companies declared their ultimate dividend percentages and sent final "top-up" payments for agreed claims to scheme creditors. The final declared claim percentages are as follows:

  • Kingscroft – a top-up of 2.41%, bringing total scheme dividends to 86.41% of agreed claims.
  • Lime Street – a top-up of 3.25%, bringing total scheme dividends to 90.25% of agreed claims.
  • Mutual Re – a top-up of 1.42%, bringing total scheme dividends to 76.42% of agreed claims.

These are the final scheme payments and it is anticipated that the scheme administrators will formally close the schemes in 2013.