GLOBAL BRIEFS

London-based CNA International Reinsurance Co. Ltd. has won permission from the Monetary Authority of Singapore to open an office there. CNA plans to write property/casualty, liability and marine reinsurance out of Singapore. . . . Callum Stewart has been appointed managing director of Heath Reinsurance Broking Ltd., part of London broker C.E. Heath P.L.C. . . .Good risk management procedures will be rewarded by lower premiums in a new construction vehicles i nsurance program launched by Commercial Union P.L.C. Covering the United Kingdom and Europe, the policy offers discounts for various security methods and no deductible if construction vehicles are equipped with tracking devices in case of theft. . . .Corporations should formalize and publish their risk management policies in annual reports to shareholders, recommends the Assn. of Insurance and Risk Managers. Responding to a consulting paper issued by the Com mittee on Corporate Governance, AIRMIC suggests that the proposed Cadbury Code on Corporate Governance should include a working definition of risk management, requiring best practices but without setting specific rules. . . Chicago-based Aon Corp. has completed the initial phase of consolidating its recent London acquisitions with the naming of its U.K. retail executive board. Geoff Whitehead has been appointed chairman and chief executive of the operation, now called Aon Risk Services. Greg Collins and Ian Falconer have both been named vice chairmen and executive directors. . . .Graham McKean, chairman of London broker Ballantyne, McKean & Sullivan Ltd., is to chair a group looking i nto the future role of unlimited liability capital at Lloyd's of London. It is expected to report its findings to the Council, Lloyd's ruling body, in the spring. . . .U.S. insurance buyers will have a new route into the Lloyd's of London market if a complicated project by new London insurer Medway Insurance Group P.L.C. takes off. Medway is looking to offer shares on the Alternative Investment Market to raise (British pounds) 70 million ($114.1 million) to provide the comp any with working capital and finance a $54 million purchase of U.S. reinsurer Hansa Reinsurance Co. of America, presently owned by Trygg Hansa Insurance Co. Ltd. of Stockholm, Sweden. Hansa Re will be renamed Medway Insurance Co. a nd will be recapitalized with assets of $100 million. Medway aims to get multiline licenses for Hansa Re in all U.S. states-it currently is licensed in 16 and holds reinsurance licenses or reinsurer accreditation in a further 19. M edway intends to write U.S. business, reinsuring a substantial portion of its book into the Lloyd's market. . . .The London insurance market is a step closer to computerization with the launch of its Electronic Closing and Accounti ng system. ECA enables risks, endorsements and accounts to be closed and settled electronically, removing duplication, simplifying the business process and making cost savings.