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  • 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.
  • Last week, Bermudian insurer Allied World Assurance Company appointed a new chief executive in a move that will do little to quash speculation that the company may look to go public later this year.
  • 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.
  • Mutual Risk Management filed a lawsuit against US insurer John Hancock last week blaming it for contributing to the Bermudian based programme manager’s demise.
  • The run-off of the Kwelm group of companies could close as early as next year after the creditors voted to close the scheme last week.
  • Former Royal & Sun Alliance Australasian subsidiary Promina Group last week announced net profits of A$271.8mn for 2003, excluding New Zealand contributions until May. Including a 12-month New Zealand contribution, pro forma net profits reached A$298mn. T
  • The acquisition of Caribbean property insurer Island Heritage boosted the premium income of "Class of 2005" reinsurer Flagstone Re, which rose 91 percent last year, it revealed in its 2007 results.
  • Japanese insurer Aioi Insurance Company revealed today (5 January 2004) that it expects its 2003 profits will be up by 35 percent because of compensation received from the aviation reinsurance pool manager, Fortress Re.
  • Guy Carpenter & Co has recruited an eight-strong Credit, Bond & Political Risk team headed by the former Benfield Group executive John Orchard, Insider Week can reveal.
  • Willis Group’s long-established Italian financial institutions/executive risks team is set to change sides and join rival Aon Ltd, only months after the world’s third largest broker restructured its London-based professional risks division.