HIH Insurance Limited was a publicly listed company in Australia. Prior to its collapse in 2001, the HIH Group was the second largest general insurer in Australia and had operations in many other countries.
On 15 March 2001, HIH Insurance Limited and a number of its subsidiaries were placed into provisional liquidation. Subsequently, on 27 August 2001, the companies that were in provisional liquidation were placed into liquidation.
The Australian Schemes of Arrangement remain in place for three of the original eight scheme companies namely HIH Casualty & General Insurance Limited, FAI General Insurance Company Limited and CIC Insurance Limited. The Scheme Administrators have in June 2021 paid the final Scheme Payments to creditors with Established Scheme Claims and the Schemes will automatically terminate twelve months after the final Scheme Payments are made.
The other Australian Schemes of Arrangement of FAI Reinsurances Pty Ltd, World Marine & General Insurances Pty Ltd, FAI Traders Insurance Company Pty Ltd, FAI Insurances Ltd and HIH Underwriting and Insurance (Australia) Pty Limited have terminated as final distributions have been paid by the Scheme Administrators.