August 2007/5

Insurance services company Whittington has overseen the first successful scheme of arrangement for a Singapore-based insurance company, with the closure of Lion City Run-Off Private Ltd.

"Class of 2005" insurer Lancashire Holdings Ltd has appointed Neil McConachie as its chief risk officer.

Bermudian reinsurer PartnerRe Ltd has relocated its global reinsurance business to Dublin in order to take advantage of the Europe Union's regulatory regime, said the company.

Lloyd's (re)insurer Kiln plc has improved its outlook on three of its four trading syndicates in 2005, the company confirmed last week.

The Spitzer fallout continues for Marsh & McLennan Cos (MMC) with the filing of an anti-trust lawsuit by the state of Ohio against the world's largest broker, along with American International Group and three other insurers.

The current crisis in the money markets has led to insurers cancelling planned debt issues, Insider Week can reveal.

The Insurance Insider's Trading Risk event on the 6 September has now attracted over 350 registrants - meaning only subscribers to the publication can now register to attend.

Lloyd's insurer Novae Group plc has announced that Jonathan Butcher will become active underwriter of its Syndicate 2007 following the retirement of the incumbent Alan Hicks later this year.

Zurich Financial Services (ZFS) has confirmed that it has made a $30mn settlement for a class action lawsuit in the US.

Independent Insurance's London Market division was accepting "rubbish business" where "no premium was too cheap" the company's former chief executive Michael Bright told a court last week.

Swiss reinsurer Converium Holdings posted a 58 percent half-year increase in its net income of $197mn in its final results after being acquired by SCOR Group earlier this year.

US giant Travelers' Lloyd's operation is set to become the latest managing agency to establish a Singapore presence through the Lloyd's Asia platform.