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  • Typhoon Fitow, this year’s ninth named storm in the western Pacific, made landfall in Kanagawa state southwest of Tokyo on 7 September, with maximum sustained winds of 86 mph.
  • Bermudian reinsurer Max Re has today filed its first quarter results, a move that should avert its delisting from the Nasdaq trading exchange.
  • Lloyd’s insurer Wellington Underwriting plc provided evidence that 2003 will be an excellent underwriting year for the Society when revealing last week that its Syndicate 2020 should make a profit of between 11 and 18 percent of capacity.
  • Claims management and outsourcing firm Xchanging is in negotiations with Deutsche Bank to take over the handling of its back office securities clearing processes.
  • Swiss Re has launched Vita Capital Ltd, the first ever bond securitising life reinsurance risk instead of retrocessional cover.
  • 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.
  • 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.
  • Bermudian insurer ACE last week announced that Evan Greenberg would assume the role of CEO as of 27 May 2004. The move will see the replacement of current ACE chief Brian Duperreault, who, ACE said, will remain as chairman.