Integer has urged its members to reject plans by the Stop Loss Recovery Group (SLRG) to replace members of the board with three directors from the SLRG.
A row between the two groups has broken out over whether Integer sought compensation from Euclidian for the losses its members incurred in relation to Euclidian's stop loss policies.
SLRG said Integer “failed” to look into compensation claims, while Integer said SLRG failed make known the amount of losses they sought to recover, making it “inherently difficult” to seek compensation.
As a result of the fall out, SLRG is hoping to replace the Integer board with three directors it has selected.
Ahead of the vote on November 12, Integer chairman Henry Studholme has written to members to reassure them the current board is committed to distributing assets to its members.
Studholme said members needed a clear opportunity to decide who should run Integer.
In his letter to members, he argues against giving power to SLRG, saying "it is essential that a mutual company has a board that represents the broadest range of interests and not a single, narrow faction."
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