August 2009/3

Insurers have put up the specie insurance industry's biggest ever reward as they attempt to track down the Graff robbers and their loot.

Towers Perrin has named Derek Keating as an executive director of its London reinsurance brokerage business, effective 1 September.

Aon Benfield Securities has appointed Chris Parry as a director in its investment banking division, as it continues to grow the practice.

Berkshire Hathaway CFO Marc Hamburg has hit back at reports that it "goofed" on its mark-to-market valuation of derivative risks.

The Lloyd's Exchange has gone live with its first intra-market message.

Lost and found cargo ship Arctic Sea is insured for crew-related risks with Russian insurer Ingosstrakh.

American International Group (AIG)'s $200mn D&O insurance policy is set to pay a $115mn loss, after it was reported that former chief executive Maurice 'Hank' Greenberg and five other defendants have agreed to settle a shareholder lawsuit.

The British Insurance Brokers' Association (BIBA) has said that Mike Slack stepped down from its board at the end of July, after seven years.

Lehman Brothers is suing American International Group (AIG) for $9mn it says the insurer owes on credit default swap covers it took out on three firms that subsequently filed for bankruptcy, according to reports.

CNA Financial Corporation has appointed John Hennessy to replace Julian Eniozi as head of its European operations, with a mandate to grow its European distribution.

The British Virgin Islands and Cayman Islands have joined Bermuda in being upgraded to the Organisation for Economic Cooperation and Development's (OECD) white list, after meeting internationally agreed tax standards

US insurer The Hartford is to refund $48.3mn in excess profit to worker's compensation policyholders in order to comply with Florida law.