Summary

Valuation of insurance companies faced with winding up petitions : Policyholders' Protection Scheme - valuing assets and claims : Valuation of insurance companies faced with winding up petitions.

Facts

Guidance on valuing insurance companies faced with winding up petitions where it was held inter alia in reply to questions posed in a summons- A The code in r.6 & the Schedule to the Insurance Companies (Winding Up) Rules 1985 SI.95 provide a complete & exhaustive code for the valuation of admissible claims save in relation to amounts which had fallen due for payment. B Policy holders who had not made claims were entitled to claim for loss of cover for the value of the unexpired cover & liabilities accrued or contingent under their policies.

Held