Insolvent was formed in 2002 by Peter and Michael when they decided to make use of material that were originally written for Requiem, but had been discarded for different reasons. They started working alongside of Requiem, and as things developed the team decided to do something serious with the music. Peter had heard some songs that feautured Linnéa Sporre on vocals and asked her if she wanted to participate on some of the earlier Insolvent material. She did, and was soon added as a permanent member.

The sound of Insolvent has developed in a way that differs a lot from what Requiem does, and the two should probably not be compared.