Converium , a Zug, Switzerland-based reinsurer, hired Deutsche Asset...

Converium, a Zug, Switzerland-based reinsurer, hired Deutsche Asset Management to oversee $5 billion of its balance sheet assets, of which $4 billion will be managed in fixed income, confirmed Beat Werder, Converium spokesman. The $4 billion had been internally managed, he added. DeAM will also advise Converium on $1 billion that will continue to be managed in-house, said Mr. Werder.