It was established by local authorities, and was formally incorporated on 13 March 1903.
[1] Over the following decades it became responsible for insuring most public sector bodies, including councils, police and fire authorities.
[2] Between 1990 and 1992, the company suffered substantial losses, and its assets were reduced to below the minimum level for solvency.
[1] In 1993, it was bought by Zurich Insurance,[1] although MMI itself continues to pay all its outstanding liabilities.
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