Guardian Financial Services Insurance Company
EDM number 847 in 1993-94, proposed by John Denham on 14/03/1994.
That this House notes with concern that Guardian Financial Services, formerly Guardian Royal Exchange, lost ú8.3 million of policyholders' money lent to the property company Baronrealm; further notes that the company had invested ú36 million of policyholders' funds into its own subsidiary sales company, GRE Financial Management, which was clearly unprofitable; deplores the general lack of care with which the company has invested policy holders' money; and calls on the Department of Trade and Industry to investigate the poor investment record of the company.
This motion has been signed by a total of 38 MPs.
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