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  • The National Oceanic & Atmospheric Association (NOAA) has forecast that 2006 will be another "very active hurricane season" in the North Atlantic.
  • 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.
  • The run-off (re)insurance group Alea Group Holdings Ltd has sold its US insurance arm to a unit of Praetorian Financial Group Inc, the US specialty arm of Hannover Re.
  • Analysts from Merrill Lynch have downgraded shares in broker Benfield to neutral noting that, although they believe the company is "entering a phase of rapid earnings growth", this is largely reflected in the current share price.
  • 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.
  • Willis Group Ltd has seen further migrations from its Italian team to rival Aon Ltd following the recent resignation of the unit head, Alberto Carrara.
  • UK broker Windsor plc has acquired the remaining minority interests in Argonaut Indemnity to become the sole owner of the company.
  • 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.
  • 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.