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Australian court approves HIH scheme
An Australian judge has approved a scheme of arrangement for collapsed Australian insurer HIH Group at a sanction hearing in Sydney's Supreme Court on 26 May.
30 May 2006
High Court sanctions first Lloyd's Part VII syndicate transfer
The High Court has sanctioned the first transfer of business out of a Lloyd's syndicate since the formation of Equitas ten years ago, opening the prospect of a new method to obtain finality for non-trading syndicates.
30 May 2006
Quanta goes into run-off; search for replacement Lloyd's capital
Embattled Bermudian (re)insurer Quanta Capital Holdings will move most lines of business into run-off, the company announced on 26 May.
30 May 2006
Converium back in black from declining income
Swiss reinsurer Converium reported its net income of $61.6mn in its first quarter results, taking the company back to a profit after a $5.5mn loss in the prior-year period.
30 May 2006
Alexander Forbes in R380mn "bulking" settlement
Alexander Forbes Group Ltd has announced a Rand380mn (£31mn) settlement with South African regulators over its practice of "bulking" pension funds and said the package will reduce its 2005 earnings by 20 percent.
30 May 2006
Hammond joins Alexander Forbes
Alexander Forbes has appointed Mike Hammond, the former Marsh UK chief executive and JLT Risk Solutions chief executive, as the deputy chairman of its International Risk Services business.
30 May 2006
RI3K and Xchanging launch FELIX
Electronic reinsurance trading platform RI3K has teamed up with back-office provider Xchanging to launch the Framework for the Electronic London Insurance eXchange (FELIX).
30 May 2006
RenRe elects Klehm to board
Bermudian reinsurer RenaissanceRe has elected Henry Klehm III to its board of directors - bringing the total on the board to 11 of which nine are independent.
30 May 2006
Two more join Integro
Fast-growing start-up broker Integro has announced two more new appointments in the last week.
30 May 2006
BP Marsh continues to grow
BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, grew its net asset value by 16.3 percent last year.
30 May 2006
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