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  • 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.
  • 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.
  • Embattled Bermudian (re)insurer Quanta Capital Holdings will move most lines of business into run-off, the company announced on 26 May.
  • 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.
  • 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.
  • 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.
  • Electronic reinsurance trading platform RI3K has teamed up with back-office provider Xchanging to launch the Framework for the Electronic London Insurance eXchange (FELIX).
  • 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.
  • Fast-growing start-up broker Integro has announced two more new appointments in the last week.
  • 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.