WFUM Pools vote result slated for New Year

LONDON—The outcome of voting by creditors of the WFUM Pools companies on a proposed scheme of arrangement for the pool will be disclosed in early 2007, the proposed manager of the scheme has announced.

Creditors of 14 of the 16 potential participants in the scheme voted on the plan at a meeting of all 16 held late October, according to PRO Insurance Solutions Ltd., the proposed manager of the plan.

The members of the WFUM pool underwrote insurance and reinsurance business in pooling arrangements through Willis Faber (Underwriting Management) Ltd., Devonport Underwriting Agency Ltd. and Willis Faber & Dumas Ltd. during the 1970s to 1990s.