Yesterday, WireNews touched the tip of a story that in the coming days will expose the inner workings of a number of companies, in the UK and outside the country that form the backbone of insurance protection for millions of people.
Peter William Blanc, chairman of Hastings Insurance Services Limited described the corporate structure of that company as "really quite straightforward". As Group CEO of Aston Lark Group, Blanc has an interesting take on what straightforward means.
This story begins with Aston Lark Limited, registered in England and Wales, No. 02831010. Founded in 1993, this company provides many different types of insurance protection through policies issued by a long list of insurance companies.
What follows is Blanc's straightforward corporate structure:
Hammersmith Midco Limited is controlled by Hammersmith Topco Limited, a company that takes control of Aston Lark Group outside the United Kingdom for the first time. Hammersmith Topco Limited is registered in Jersey, Channel Island in March 2019 and while part of the UK technically, the full details of Jersey registered companies is not made public. Very limited information is available.
Registered office and governance services are provided to Hammersmith Topco Limited by Mourant, a law firm run in Jersey by Daniel Birtwistle. Birtwistle acts upon instructions from the controlling person or persons and will have a letter of instruction tucked neatly in a file that determines the desires of the 'controller' or 'controllers', which does not bind him legally, further than his desire to collect future fees.
Blanc considers this normal.
The question remains: Who is/are the shareholder(s) of Hammersmith Topco Limited?