Folksam International Insurance Company (UK) was put into administration on 19 July, as a result of new insolvency legislation introduced on 31 May. This could mean policyholders receiving some payment earlier than they otherwise would have.
The company's directors concluded that there was "insufficient certainty" that the company's insurance operations could be run-off on a solvent basis. Folksam ceased writing business and went into run-off on 31 December 1996.
