August 2007/5

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

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.

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.

London market back office service provider Xchanging plc has entered into a retail investment account management partnership with Allianz Global Investors.

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.

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.

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

Despite the fact it was the third-most intense Atlantic hurricane to make landfall since records began Hurricane Dean's "extraordinarily fortunate track" left (re)insurers facing only modest losses.

Last week saw the first trade on the New York Mercantile Exchange (NYMEX) of a Re-Ex Index catastrophe derivative, and a joint venture to launch a specialist insurance derivatives broker.

Marsh & McLennan (MMC) is holding to its commitment to return funds to shareholders when it announced on 24 August that it would buy $800mn of its shares from a "financial institution".

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.

The $45mn loss of a plane in Japan last week has pushed the airline sector closer to a tipping point, according to aviation analysts Ascend.