Creditors in the Kwelm insurance companies will receive an average additional 7% payout across the five member companies, said the tenth Kwelm annual report.
It said this would increase the total payments to date to between 44% and 62%.
In addition, Kwelm confirmed that the creditors and Courts have approved a closure programme which will see the bulk of funds paid to creditors within three years, as opposed to the 11 years stated under the original scheme.
The report set 29 September 2004 as the final day by which the creditors must submit details of any claims.
Funds for distribution to creditors increased to $2.5bn, while cumulative gross reinsurance recoveries now exceed $2bn with $246m recovered during 2003, said Kwelm.
Cumulative agrees claims now exceed $3.1bn, with $142m claims processed and agreed during 2003.
The Kwelm companies are subsidiaries of collapsed London United Investments. They are Kingscroft Insurance, Walbrook Insurance, El Paso Insurance, Lime Street Insurance and Mutual Reinsurance.
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