Risky Business: RSA Puts Their Reputation On The Line

Royal & Sun Alliance Insurance has taken the risky step of going into business with criminal fraudsters Mike Henry and Steve Nichols.

The tie-up is allegedly to sell Interglobal Insurance to unsuspecting expatriates residing in Singapore and China.

Apparently the pursuit of potential income has superseded the insurer's obligation to its shareholders and the public to do business only with ethical parties. Either that or RSA's due diligence process has failed miserably. What is unknown at this point is how RSA intends to explain this to the Chinese and Singaporean insurance regulators, and why they are putting their entire business operation in those jurisdictions at risk for the sake of a relatively small amount of potential income.

Comments from insurance regulators will be posted here as they become available.
More Details: Click Here

Interglobal Setting Its Brokers Up For A Fall

Employing typical Mike Henry-Steve Nichols trickery, Interglobal Limited, the business they illegally control, is attempting to stealthily knife its brokers in the back.

Well, not quite so stealthily, if the brokers are paying any attention to what's going on.

On the Interglobal website, prospective customers are encouraged to bypass their broker and sign up direct, using a term they call 'Execution Only Customers'. What this means is that customers sign up direct with Interglobal, thus cutting the brokers out of the deal. Mike Henry tried a similar dirty tactic against Mike Henry Travel Insurance agents a few years ago in New Zealand when he ran TV advertising. In these ads, Henry displayed the Mike Henry Travel Insurance web address, and viewers were instructed to go to Mike Henry's website and sign up direct, thus cutting out the travel agents. This caused such a ruckus from travel agents that Mike Henry was forced under pressure to remove the web address from the TV spots, and replaced it with text and a voice-over which stated: "See your bonded travel agent".

Can Henry and Nichols can get away with yet another slimy trick against those who have built the business they control? That will be determined by whether or not the brokers put up with it. It wouldn't be the first time Mike Henry and Steve Nichols stole from people who were mislead into believing that Mike Henry is a legitimate and honest businessman.

See: http://www.interglobalpmi.com/ig_index.php

Takeover Artist Mike Henry Lies in Court Document, Cheats Intermediary Out of His Business and Millions of Dollars in Income

Mike Henry, founder of Mike Henry Travel Insurance Limited and largest shareholder of Interglobal Limited, and Steven M. Nichols, Mike Henry Travel Insurance Limited managing director, face potential civil and criminal action as a result of their underhanded conspiracy to gain control of one of their leading intermediary's businesses, which involved lying in an Auckland, New Zealand High Court document.

If you are a broker or intermediary for Interglobal Limited and you think your income and business is safe, think again...

Mike Henry and Steve Nichols cancelled their relationship with a top-selling intermediary, claiming that the intermediary had acted illegally, when in fact it was Mike Henry and Steve Nichols that had acted illegally. It was part of a well-planned scheme on the part of Mike Henry and Steve Nichols to cheat the intermediary out of his business and steal his income, after the intermediary refused to comply with Mike Henry’s insistance that the intermediary sign over a 60% interest in his business to Mike Henry. Subsequently, Mike Henry took the extra step of sending defamatory letters direct to the intermediary's clients and business associates prior to informing the intermediary of the cancellation, with the intent of ruining his good name, and preventing the defrauded intermediary from moving his business to another provider.

Of further significance is the fact that Mike Henry set up a shell company, Henry Corporate Trustee Ltd., on the day after he stole the intermediary's business and income. This shell company was the first in a series of a half-dozen shell companies set up by Mike Henry with the apparent intent of shielding his shares, and those of family members, from the risk of litigation. Since, however, this defensive move was made after Mike Henry committed the crime, under NZ law, Mike Henry will not be able to shield these assets from litigation. If forced to pay back the stolen income along with interest and penalties, Mike Henry and Steve Nichols will likely face personal bankruptcy and loss of their homes. They may also face long prison sentences, similar to Enron's disgraced top executives.

Furthermore, it seems that Mike Henry is not capable of telling the truth, even to his own lawyer. It can now be proven that Mike Henry lied in a New Zealand High Court document, in an attempt to cover up the above acts of fraud, exposing the 60-year old Mike Henry to a possible prison sentence, for this and other felonies.

An analysis of the evidence proves conclusively that criminal laws were broken by Mike Henry and Steve Nichols in this incident. The full report is being submitted to police investigators and news organisations.

If you are a broker, or intermediary with any Mike Henry-related company, you would be wise to take steps to protect yourself, in order to safeguard your business and income. Interglobal is known to offer an extra point or two in commission in order to take business away from competitors, but this will be no windfall if you end up losing your entire book of business when Mike Henry decides its time to move the entire source of the income over to his side of the table. If he does this to others, you're fooling yourself if you think it won't happen to you. It's only a matter of time before your life's work and your income becomes Mike Henry's asset. Mike Henry does not believe in working hard, only in taking the hard work of others for himself.

More Details: Click Here

IAG NZ Acquisition of Mike Henry Travel Insurance Limited Raises Questions of Impropriety

Insurance Australia Group New Zealand’s July, 2004 acquisition of 50.1% of the Mike Henry Travel Insurance Limited business seemed to be an insignificant event at the time. The annual net income for the NZ provider of travel insurance isn’t even a rounding error for the Australian insurance giant. It seemed so insignificant, in fact, that the transaction was referred to in an Insurance Australia Group press release at the time as “a small acquisition in New Zealand” and “neither the acquisition nor the premiums are significant to the results or financial position of IAG.”

A seemingly insignificant event like this one can often lead to serious trouble.

Compelling evidence that Michael Paul “Mike” Henry, the 60-year-old founder of Mike Henry Travel Insurance Limited, and Steven Murray Nichols, managing director of Mike Henry Travel Insurance Limited, have allegedly defrauded a number of former business associates, has made the acquisition appear to have been a serious mistake. Furthermore, Mike Henry has been linked to organised crime, through a long-established business partnership of some 8 years, with a biker gang member and drug trafficker who was convicted and sentenced to a 12-year prison term in May, 2005, along with Mike Henry’s daughter, Deborah Anne Henry, who was convicted and handed a 2-year sentence for drug crimes, (see “Business Partner, Daughter of Mike Henry Travel Insurance Limited Founder Convicted of Drug Trafficking, Sentenced” elsewhere in this blog).

But that isn’t the worst of it.

It has come to light that Insurance Australia Group New Zealand, as well as the law firm which was performing the due diligence, were warned specifically of the existence of evidence of crimes allegedly committed by Mike Henry, just days before the deal was to close, but that this notification was not acted upon. Why such important information was not acted upon is unknown at this point, but it looks like what might have been a cover-up appears to have possibly taken place.

The law firm in question is none other than the law firm featured in the book "Thirty Pieces of Silver", which exposed the darker side of the legal profession, in some ways not unlike the best selling book "The Firm", which was made into a popular movie starring Tom Cruise. The idea that IAG NZ used such a notorious law firm to perform due diligence on unsavory characters like Mike Henry and Steve Nichols is almost surreal, especially in light of the fact that the law firm, as well as the dealmakers at IAG NZ, ignored warnings of illicit activities on the part of Messrs. Henry and Nichols. This appears to be a clear breach of fiduciary duties.

The fact that Insurance Australia Group seems willing to look the other way and do business with Mike Henry, a man who does not share Insurance Australia Group’s values, is improper and calls into question Insurance Australia Group’s judgment.

In addition to Mike Henry Travel Insurance Limited, Insurance Australia Group and Mike Henry have for some years jointly owned First Rescue and Assistance Limited (First Assistance), a call centre based in Auckland, NZ. To be this deeply involved with a business partner for years and suddenly find out he's a filthy rat is understandably a difficult situation to extract oneself from without significant embarrassment.

If all that wasn’t bad enough, there’s more. Resulting from its 2005 acquisition of Royal & Sun Alliance Insurance Thailand, Insurance Australia Group NZ inherited still another business tie-up with Mike Henry in Thailand, an expatriate medical insurance program, which now trades under the brand name "NZI" in Thailand, part of Interglobal Limited, a provider of expatriate health insurance illicitly controlled by Mike Henry. The founder of the Interglobal (formerly Global Healthcare) business and a number of other persons have provided sworn statements and documents to the Serious Fraud Office in New Zealand, in which they detail dozens of individual allegations of fraud, conspiracy, duress, embezzlement, theft of millions of dollars, and tax fraud, among other criminal acts, on the part of Mike Henry, and Steven M. Nichols, in connection with their seizure of control of the Interglobal (formerly Global Healthcare) business, while its founder was recovering from a serious traffic accident. (see “Financial Trouble at Interglobal” elsewhere in this blog)

So why is Insurance Australia Group, a large, reputable company in an industry where honesty and integrity are the very core of the business, risking their good name by "making small acquisitions", that are "not significant" to IAG's financial position, from the likes of Mike Henry and Steve Nichols, and apparently standing by such corrupt persons in the face of overwhelming evidence? Even more significantly, by making misjudgements such as this, and leaving them uncorrected, isn’t Insurance Australia Group risking the ire of shareholders, which conceivably could bring all of IAG’s recent and future acquisitions under the microscope, and put the brakes on Insurance Australia Group's current acquisition tear?

As IAG CEO Michael Hawker stated in an interview with CEO Forum, "From a credibility point of view, we had to lift our game".

What better way to lift IAG's game than to choose its business partners more carefully and weed out those who are subsequently found to be not playing the game by the rules, even if it means admitting a mistake or two along the way.

Given the fact that insurance companies are, by nature, not known for ranking high on the public's most admired list, the respect the public has for IAG could suddenly turn to scorn, if this situation is not swiftly and decisively addressed.

And if recent history is any guide, a cover-up can turn seemingly minor missteps into a full-blown scandal, and even bring down a company. The parallels with Arthur Anderson are a chilling reminder. Insurance Australia Group is a public company with a lot at stake, and IAG CEO Michael Hawker needs to find out what went wrong in the New Zealand subsidiary and deal with it, before this small acquisition turns into a major disaster for the company.

Alternatively, if IAG was to make a public statement of disassociation with Mike Henry and cancel all business ties, even without going into the details, IAG could turn this potentially explosive situation into a positive one, and even enhance its already stellar reputation with the public and shareholders.

• • • • •

This story was prepared in part with information from the following sources:

CEO Forum
http://www.ceoforum.com.au/200309_ceodialogue.cfm

Breaking News: Fraud Investigator's Preliminary Report Raises Serious Questions and Concerns about Mike Henry Wrongdoings

The end may be in sight for the illicit business careers of Mike Henry and Steve Nichols, directors and major shareholders of Interglobal Limited and Mike Henry Travel Insurance Limited.

Respected and experienced fraud investigator, Mr. John Dierckx, LLM, has examined the Mike Henry Wrongdoings Dossier of Evidence and has issued a detailed 43-page preliminary report.

On his own blog, Mr. Dierckx presents a more comprehensive and balanced look at the issues presented here.

Click Here to read Mr. Dierckx’s summary of his preliminary assessment of the evidence

Among his findings: (quote)

“The thrust of the assessment was to identify, based on the available information, whether or not there are indications of fraud and or other illegal or illegitimate activities seen through the eyes of someone that is involved in the investigation of fraud on a regular basis.

The available evidence appears to justify suspicions of illegal behaviour on the part of Mike Henry, Steve Nichols and associated companies that could potentially be falling within the boundaries of behaviour that is criminalised under the Crimes Act 1961 to name just a few:

• Theft by a person in a special relationship (Section 220)
• Dishonestly taking or using a document (Section 228)
• Obtaining or causing loss by deception (Section 240)
• Threats of harm to people or property (Section 307A)
• Conspiring to commit offences (Section 310)

It is noted that these offences are only a select few, listed in the Crimes Act. It can, at this stage, not be ruled out that there could be criminal and/or civil liability under other acts or common law.” Read more...
(end quote)

Notes from The Moderator:
The excerpt above is just the tip of the iceberg. If you previously had any doubts about the allegations presented in this blog, those doubts will surely be put to rest after you read the first few pages of this compelling, 43-page preliminary investigative report. Concerned organisations can request an in-person presentation of Mike Henry Wrongdoings--The Special Investigative Report. See in-depth analysis, supported by dozens of key documents that prove the allegations of fraud and wrongdoing many times over against Mike Henry and Steve Nichols. Send full contact details by email to: insurancewatch@gmail.com.

The overwhelming volume of evidence of civil and criminal wrongdoings, and unethical behavior, alleged to have been committed over a period of many years, points to a well-established pattern of misconduct and disregard for the law. The crimes alleged against Mike Henry and Steve Nichols are far in excess of those alleged in recent Marsh and AIG scandals, which is even more remarkable given that those companies are thousands of times the size of Mike Henry's.

Why continue doing business with Mike Henry and his web of companies when there are so many other companies to choose from that don't have this potentially disasterous cloud of impropriety and wrongdoing hanging over them?

Financial Trouble at Interglobal Limited...

Mike Henry, the 60-year old founder of the Auckland-based Mike Travel Insurance Limited, is seeing his mini-empire start to crumble on the eve of his retirement, as consequences of alleged wrongdoings committed over many years catch up with him.

According to sources, Mike Henry is attempting to sell expatriate health insurance provider Interglobal Limited, a company he controls. A forensic examination of publicly-available Interglobal Limited financial records indicates that Interglobal Limited is "a house of cards". In the most recently reported (2004) financial year, (Source: UK Companies Office), Interglobal Limited had revenue of only GBP1,914,601 (US$3,230,000), and a razor-thin net profit of only GBP7,792 (US$13,200). Cash reserves were a mere GBP315,280 ($535,976). It is unknown why Interglobal Limited’s auditor suddenly resigned in Nov. 2005, coincidentally around the time that details of Mike Henry wrongdoings started circulating on the internet.

Industry watchers suspect that Mike Henry brought in Stephen Hartigan, a respected industry professional, as CEO, in a desperate attempt to give the faltering company some credibility, with the aim of dressing Interglobal Limited up for a sale. It is unlikely that Mike Henry told Mr. Hartigan the true history of the business. Based on results, however, Interglobal Limited can be argued to be of negligible worth to an acquirer, from both a financial and a strategic perspective, given Interglobal Limited’s infinitesimal market share, low profitability, and the low valuation (GBP750,000) that Royal Bank of Scotland divested its 45% share for in August, 2004.

Another mystery is why some of the Interglobal Limited brokers falsely state on their websites and in advertising that Interglobal Limited has "over 800,000 members securely covered worldwide" (see "Globally Fictitious", below). An analysis of the published financial results reveals that the real number of customers is only a few thousand, which is less than 1% of the advertised number, and most likely is an intentional effort by Mike Henry and his minions to deceive the public, by attempting to paint a blatently false picture of financial health and massive scale, while the reality is that Interglobal Limited has an insignificant market share and is barely solvent.

And if Interglobal Limited’s financial problems were not enough, more trouble lies ahead. The ownership of the Interglobal business, with offices in the U.K. and New Zealand, is in dispute. The founder and a number of other persons have provided sworn statements and documents to the Serious Fraud Office in New Zealand, in which they detail allegations of mail and wire fraud, document fraud, conspiracy, duress, money laundering, embezzlement, defamation, theft of millions of dollars, and making false statements to the IRD, on the part of Mike Henry, and his business partner, Steven M. Nichols, in connection with their seizure of control of the Interglobal (formerly Global Healthcare) business, while its founder was recovering from a serious traffic accident.

Mike Henry NZ Limited was under contract as third-party administrator of the program at the time. Mike Henry and Steve Nichols are alleged to have committed duress and insurance fraud by threatening to withhold payment of tens of thousand of dollars in hospital bills if the founder did not cede control of the business. Mike Henry and Steve Nichols then registered new companies to transact the already-existing business, in an apparent attempt to cover up their alleged illegal acts, and allegedly proceeded to embezzle millions of dollars in income that was not theirs, according to a sworn statement provided by the founder of the business, which is accompanied by more than 800 pages of supporting documents. It is clear from the evidence that Mike Henry never purchased the business from the founder and played no role in creating the business. Steve Nichols further threatened to make trouble for the founder with the Inland Revenue Department if the founder did not leave New Zealand. There is evidence that Mike Henry NZ Limited then filed false declarations with the NZ Inland Revenue Department, in an attempt to create a New Zealand tax liability for the defrauded founder, stating that he had been an employee of Mike Henry NZ Limited, when in fact MHNZ was employed by the founder as third-party administrator, and Mike Henry had no business involving itself in the founder's tax issues. The London solicitors for the defrauded founder have rendered an opinion that Mike Henry and Steve Nichols defrauded the founder out of his business and income.

Mike Henry-controlled Interglobal Limited lost its underwriting contract with a Lloyds of London syndicate in October, 2002, when it was brought to the syndicate's attention that Interglobal was trading illegally in Japan.

Further investigation has turned up a number of former business associates who have submitted sworn affidavits and documented evidence detailing multiple acts of alleged fraud committed by Mike Henry and Steve Nichols.

Mike Henry sold a 50.1% stake in Mike Henry Travel Insurance Limited, a distributor of travel insurance sold to consumers through Flight Centre, House of Travel, Harvey World, Holiday Shoppe, and various other travel agencies, to Insurance Australia Group (IAG) in July, 2004. The remaining 49.9% is scheduled to be sold to IAG in the second quarter of 2006, according to NZ Commerce Commission filings.

Shareholders of Insurance Australia Group have reason to call for the cancellation of the Mike Henry Travel Insurance Limited acquisition, on the grounds that doing business with Mike Henry has significant potential to tarnish IAG's good reputation, and as further details of extensive wrongdoing on the part of Mike Henry and Steve Nichols are revealed, the value of the Mike Henry brand name will be eroded or rendered worthless, enriching Mike Henry at the expense of IAG shareholders.

This story was prepared in part with information from the following source:

UK Companies Office: http://wck2.companieshouse.gov.uk
Search on: Interglobal Limited, - Order Documents, - Last Accounts to 30/6/04

Business Partner, Daughter of Mike Henry Travel Insurance Limited Founder, Convicted of Drug Trafficking, Sentenced

Michael Joseph Cavanagh, a longtime business partner of Michael Paul Henry, a.k.a. Mike Henry, founder of Auckland, New Zealand-based travel insurance provider Mike Henry Travel Insurance Limited, was convicted of drug trafficking and sentenced to 12 years in prison on May 12, 2005. Deborah Anne Henry, daughter of Mike Henry, was also convicted and received a 2-year sentence.

Mike Henry is known to the public in New Zealand for a series of TV ads in which persons who had purchased Mike Henry Travel Insurance experience an improbable number of misfortunes whilst traveling overseas.

Police identified Cavanagh, 31, as a prominent member of an outlaw biker gang, and a major figure in the illegal drug trade and organized crime in New Zealand. He was convicted on a number of charges of manufacturing and dealing in methamphetamine. Also found guilty and sentenced were Deborah Anne Henry, 31, daughter of Mike Henry, who was in possession of drug-making equipment and drugs for distribution.

The trio were partners in the now-defunct Matopo Gallery, in which Mike Henry was the majority shareholder. Matopo was involved in the sale of African artworks, which were imported by another Mike Henry company, Henry Imports and Exports Limited. The Henry's and Cavanagh were in business together for some 8 years, until around the time of Cavanagh`s and the younger Henry`s arrests.

Cavanagh and Ms. Henry were involved in the manufacture and trafficking of the illegal `club drug` Methamphetamine, a precursor to Ecstasy. The bust was one of the largest seizures of the illegal drug in New Zealand history, and has made a major impact on supply.

During a dramatic six-week trial, the jury heard evidence of clandestine methamphetamine labs and safety deposit boxes stuffed with cash, bullion, expensive jewelry, watches and bonus bonds. As the financial condition of the Matopo Gallery business "went down the gurgler", in the words of Crown Prosecutor Ross Burns, "the finances of the accused persons increased dramatically as money poured in from the manufacture and sale of methamphetamine".

His daughter`s and Cavanagh`s increasing wealth, as well as Cavanagh`s gang connections, mysteriously appears to have gone completely unnoticed by senior Matopo partner and majority shareholder Mike Henry.

Examination of Matopo Gallery documents on file with the NZ Companies office reveal that, prior to 9-August 2005, there were only 10,000 shares outstanding. On that date, Mike Henry issued 482,583 new shares to himself, prior to winding down the company on Sept 25, apparently to pay off company debts and claim a significant tax write-off, while quietly sweeping under the rug the issue of his affiliation with drug traffickers.

Photo Credit: New Zealand Herald

This story was prepared in part with information from the following sources:

New Zealand Herald Articles Chronicling the Trial, Conviction, and Sentencing of Deborah Anne Henry and Co-Defendants (click on link to read the full story) :
Details of Henry-Cavanagh Drug Trafficking Trial, 1-Apr-2005
Court Finds Henry & Co-Defendants Guilty of Drug Crimes, 6-Apr-2005
Court Hands Henry 2-year Prison Sentence for Drug Crimes, 20-May-2005

New Zealand Biker
The Illicit Drug Business In New Zealand

New Zealand Companies Office: http://www.companies.govt.nz
Search on Director Search, Shareholder Search, keyword: Michael Paul Henry
Company Search, keywords: Matopo Gallery, Henry Imports & Exports Limited

New Zealand Commerce Commission: http://www.comcom.govt.nz
search on: Mike Henry Travel Insurance Limited

Mike's Shell Game: Too Much of a Good Thing?

UPDATE: Mike Henry has moved his web of NZ shell companies to a holding company in the U.K.

Some people can really get carried away at a bargain sale.

It costs very little to register a company in NZ, just NZ$100 (about US$66). The idea behind this is to encourage entrepreneurship, but Mike Henry, founder of Mike Henry Travel Insurance Limited, seems to be trying to take advantage of the NZ government's benevolence in a big way.

Mike Henry is listed as a shareholder and/or director in a complex web of over 30 companies listed with the New Zealand Companies Office. Total investment: around NZ$3,000. Many of these companies have nearly identical names and less than a handful appear to be viable business concerns. Although Mr. Henry claims to be one of the largest insurance product providers in the region, the numbers just don't support those claims. Total gross revenues (after commissions paid) of the so-called "Mike Henry group of companies" are estimated at less than US$5million, and net income is estimated at well under US$1million.

If most of the Mike Henry companies are shells, then what's going on here?

One aggrieved former Henry business partner claims that Henry issued shares to him in one shell company, but ran the business through another, and then Henry claimed that the company was bankrupt at the time Henry decided to get rid of him.

Another possible explanation is that Henry likes to crow that he's chairman of 30 companies, no doubt to create an illusion of credibility. For those not familiar with Henry's accounting methods, the sheer volume of companies gives the appearance that the so-called "Mike Henry group of companies" is a massive conglomerate, when in fact the only thing massive about this so-called group of companies is Henry's efforts to make it appear that way.

Case in point: Mike Henry Travel Insurance Limited. Sales of NZ$45million certainly sounds impressive, but that’s only part of the story. According to industry insiders, 46% of each sales dollar goes to pay commissions to travel agents, and 50% goes to the insurer. What's left? Just 4%, or NZ$1.8 million (US$1.2million), out of which all the overhead has to be paid, leaving maybe 10 cents on the dollar or an estimated US$120,000 in net income.

Out of the 30-odd companies in Henry's so-called "group", only about 5 are estimated to earn any profit, and all are in similarly low-margin businesses. It therefore comes as no surprise that Henry was dabbling in things like importing rocks from Africa to sell at the Matopo Gallery.

An examination of NZ Companies Office records indicates that Mike Henry frequently registers and de-registers companies or changes the names for no apparent reason, often using his longtime accountant, Philip Judge, of Auckland-based HLB Wylie McDonald, to file the paperwork. Mr. Judge is listed as a shareholder in some of the Mike Henry-controlled entities, including Mike Henry Travel Insurance Limited, a potential conflict with his auditing role.

Following is a list of NZ-registered companies naming Mike Henry as a director. You can find the same list if you go to the NZ Companies Office site and do a director search. Run a name search on any of the companies and you can see any name changes, director changes, and examine all documents filed in connection with that company. Be sure to check the list of "struck off" companies (Matopo Gallery appears there). Contrast this with a major corporation like Microsoft, which has only one company registered, and you will realise that this is something the IRD should have a closer look at.

Multiple companies dealing with the same business are grouped together

• Mike Henry Travel Insurance Limited

• MH Group Holdings Limited
• Henry Corporate Trustee Limited
• Henry Calder (International) Limited

• First Rescue and Emergency (NZ) Limited (a.k.a. First Assistance)

• Inbroke Corporation Limited
• MH Inbroke Limited

• Cover-More Insurance Services (NZ) Limited

• CMAC Limited
• CMAC Injury Management Limited
• Claims Management and Consultanty Limited
• International Claims Management Limited

• Driveright Limited
• M H Driveright Limited

• Interglobal Limited
• Interglobal (South East Asia) Limited
• Interglobal Insurance Services Limited
• MH Interglobal Limited
• Global Insurance Limited
• Global Healthcare Limited
• Global Healthcare (Japan) Limited

• Henry Thomson Holdings Limited

• Premium Group Marketing Limited
• Premium Group Holdings Limited

• Insure Direct Limited

• Timtech Chemicals Limited
• Timtech International Limited

• Travel Wizard Limited
• MH Wizard Limited

• ICM Limited

• M G A Insurance Services Limited

• Net Sentry International Limited

• MH Management Services Limited

Mike Henry Chairman Gets Naked for Charity

A nude bag-snatch-and-run race, sponsored by the New Plymouth Nudists Association for the benefit of local charities, was held on April 1st.

Mike Henry, chairman of the Mike Henry Group of Companies, snatched 3rd place in the 50m relay in the men's over-age-60 category, and raised $135 for the Paralympics Organisation of New Zealand http://www.paralympics.org.nz

"I got such a big rush, that I'm going to participate again next year," gushed Henry.

Allegations Against Interglobal: Their Response?...Denial

Mike Henry and Steve Nichols dig themselves into a deeper hole...

http://www.interglobalpmi.com/index.php?page_id=95

Denial Mode
It seems that Mike Henry and Steve Nichols are stunned that they have finally been caught.

Their letters containing indeciferable scrawl for signatures posted on Interglobal Limited's web site simply deny the well-documented allegations, without any rebuttal, and irrelevantly state the credentials of unrelated third-party companies as if to say, "we do business with these big companies, so that means we can't possibly be guilty of any crimes". Mike Henry complains that no proof of the allegations is offered. But ironically, most of the evidence was created by Mike Henry and/or Steve Nichols, so it must be very familiar to them already. Those who know Mike Henry and Steve Nichols well may find it quite out of character that they refuse to enter into a public debate, as this is their usual method of settling disputes. However, as they are the accused parties, and in light of the overwhelming evidence against them, it comes as no surprise that Mike Henry, Steve Nichols, their lawyer, and their underlings have nothing of any substance to say.

The impossible task at hand for a Mike Henry defense counsel: Defending the indefensible and justifying the unjustifiable. Recommended advice: Tell Mike Henry and Steve Nichols to give back their illicitly-obtained gains and leave the insurance industry permanently, and thus avoid the inevitability of total loss and the likelihood of joining Mike Henry's daughter in the NZ correctional system.

Winner: Dubious Medical Insurance Provider of the Year "Award"

Mike Henry-controlled Interglobal Limited likes to crow about all the so-called industry "awards" it has won. What Interglobal doesn't mention is that the insurance-buying public does not play any role in choosing the winners.

In fact, the winners are chosen either by the brokers selling the insurance, who are likely to "vote" for their favorite product, giving them another sales tool should their favorite product "win", or by an panel of people who get some free publicity and their photo posted on a website in return for acting as a "judge", who appear to merely pass the awards around from year to year.

These awards are part of a PR campaign created by various trade publications, which use these so-called "awards" to promote their own industry and their customers (advertisers), which are the companies in the industry. Three different trade publications have been identified which annually give out their own version of these so-called "awards". They are:

• Health Insurance Magazine
• Portfolio International
• International Investment

Note by the titles that these are not mainstream magazines for the public, but are for the industry, and in fact, are not even available to the public. There are so many different categories of awards, that almost no company participating in this slick PR scheme goes home empty-handed. Such awards are meaningless if the actual users of the product do not pick the winners.

As health insurance customers play no role whatsoever in selecting the winners, there is therefore nothing democratic at all in this "voting" process, and to use the word "vote" or to use these "awards" in advertising as an implied endorsement of any particular product to unknowing consumers is a serious misrepresentation of facts and borders on fraud.

Editorial: Stop Doing Business With the Mike Henry Companies

Insurers, brokers, intermediaries, service providers, and customers should stop doing business immediately with Mike Henry.

The insurance business is built on honesty and good faith. Persons involved in this industry must conduct themselves and their business affairs with the highest levels of integrity. It is necessary that the industry self-police itself in order to avoid erosion of public trust. Thus, the industry is responsible for ridding itself of persons that refuse to play by the rules.

The evidence provided by a number of parties proves beyond a reasonable doubt the allegations of multiple acts of fraud, embezzlement of several million dollars, conspiracy, and a host of other acts of wrongdoing and bad faith on the part of Mike Henry and Steven Murray Nichols. Furthermore, Mike Henry been proven in court to have had long-term relationships with criminals involved in the illegal drug industry, with links to organised crime, an industry that has a detrimental effect on society and ruins millions of lives. The native of South Africa is furthermore disgracing his adopted country, New Zealand, by flouting its laws and making New Zealand appear to be easy on white-collar crime.

Mike Henry and Steve Nichols are unfit to work in this industry and must be removed from it immediately. It's a joint effort, and it's up to you to do your part by ceasing to do business with these corrupt individuals, and to pass the message on to anyone you know who does business with the companies listed at the bottom of this page.

A one-hour presentation containing documents and highlights of evidence against Mike Henry has been prepared for the corporate market. A representative is available to give your company or government agency a personal presentation of the evidence. An appointment can be arranged by sending email to The Moderator: insurancewatch@gmail.com

Why stop doing business with Mike Henry? Because it's the right thing thing to do.

UPDATE:
The March presentation road trip was a resounding success. Persons in a number of entities and others that do business with the so-called Mike Henry "group of companies" expressed grave concern when viewing the overwhelming body of evidence against Mike Henry and Steve Nichols, and indicated that they have commenced their own investigations. Appointments for the next road trip are nearly booked solid, so contact The Moderator now in order to avoid missing out.

Mission Improbable: Exponential Growth

The fabrications just keep coming...
The latest tall tale from the Interglobal spin department on its website is that Interglobal Limited has experienced "exponential growth over the last few years". That must be news to Interglobal's accountant, as an examination of the last two published financial statements points to a 20% dropoff in business.

Globally Fictitious

Interglobal-sponsored advertising like the one on the left does nothing to inspire confidence among consumers.

With revenues of only GBP1.9million (US$3.2million), the actual number of customers is less than 1% of the puffed-up number in the ad. This is obviously an attempt by Mike Henry to deceive consumers, by making Interglobal Limited appear to be massive and successful, when in fact Interglobal Limited is tiny by industry standards, and barely afloat.

If Mike Henry can't be honest about appearances and has to resort to outlandish embellishments in order to sell insurance, how can a potential client realistically expect fair and honest dealings with Interglobal?

The Four-Way Test, Rotary International's Code of Ethics

As a Rotarian, Mike Henry is expected to follow these easy-to-remember guidelines for ethical behavior. (click here).
Mike Henry once bragged how he had donated some unsaleable Matopo Gallery merchandise to a Rotary auction and gained a significant tax write-off. Mr. Henry's continued membership makes a mockery of what the Rotary stands for. If you are a Rotarian, you and your fellow members can make a formal complaint by sending an email to headquarters to: changh@rotaryintl.org

Corporation of Insurance Brokers of New Zealand (click here)
As members of this organisation, Mike Henry and Steve Nichols are expected to abide by these rules.
Insurance Brokers Association of New Zealand (click here)

More Details: Click Here

Report Mike Henry Wrongdoings

If you have been a victim, or otherwise have information about Mike Henry that you believe would be important to law enforcement authorities, please send email to: insurancewatch@gmail.com. Your identity will be not be revealed to anyone without your expressed written consent.

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