- 5 -
Group's stevedoring affiliates at the end of December 1984.
Hanseatic continued to be responsible for all risks that it
assumed under contracts that it issued for prior years.
Norwesco Insurance Company Limited (Norwesco) was
incorporated in Bermuda on September 14, 1979. On the date of
incorporation, Norwesco was wholly owned by Brady-Hamilton
Stevedore Company (Brady-Hamilton), a stevedoring company that
was then unrelated by ownership to Seattle Stevedore Co. On
November 9, 1979, Seattle Stevedore Co. purchased a 50-percent
interest in Norwesco. On November 15, 1982, Seattle Stevedore
Co. purchased Brady-Hamilton. Also on November 15, 1982,
Norwesco merged its portfolio into Hanseatic, and, shortly
thereafter, Norwesco liquidated.
On June 30, 1983, Services Group acquired Crescent Wharf and
its subsidiaries. Crescent Wharf had formed Executive Insurance
Company (Executive) in Bermuda in 1980. Crescent Wharf
contracted with Insurance Company of North America (INA), a
licensed U.S. insurance company, concerning Crescent Wharf's LHW
Act risks. INA then contracted with Executive to pass on 100
percent of the risks. Effective January 1, 1984, Executive
entered into a portfolio transfer agreement with Hanseatic.
Eagle was incorporated in the State of Washington on June 7,
1978. On August 6, 1982, Seattle Stevedore Co. purchased a 100-
percent interest in Eagle. On January 1, 1985, Services Group
contributed all of Hanseatic's stock to Eagle. During the years
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011