April 2005/2

The Lloyd’s Names’ stop loss mutual Integer has announced a second proposal for a scheme of arrangement, with the aim of distributing its £9mn assets to the Lloyd’s members who bought stop-loss reinsurance polices from the company in the late nineties.

Omega Underwriting Holdings Plc became the latest Lloyd’s insurer to become publicly listed when trading began in its shares on the London Stock Exchange’s Alternative Investment Market last week.

Rating agency AM Best has cut its financial strength rating on Bermudian reinsurer Inter-Ocean Holdings Limited to B++ (Very Good) from A- (Excellent), following the company’s announcement that it has ceased writing new business and is now in run-off.

Marsh UK has published details of its new “model” designed to show greater transparency of its revenue structures after it abolished the controversial Placement Service Agreements (PSAs) last year. The broker says it has the agreement in principle fro