August 2009/3

Insurance broker Marsh Ltd is offering a new service to recession-struck UK firms struggling to renew their trade credit cover as insurers have "hardened their attitude".

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

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

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.

Aon Global Insurance Managers, a division of Aon Corporation responsible for captive management, has announced a shake-up of its leadership structure by streamlining its existing set-up into three separate hubs.

Validus Holdings has become the latest international (re)insurer to establish a foothold in the Middle East through its subsidiary, Talbot Holdings Ltd.

US insurer WR Berkley has launched a new unit to write commercial cover in the US Pacific northwest market.

French reinsurer Scor's financial strength has not been affected by the current economic turmoil, said ratings agency Fitch, as it maintained financial strength and debt ratings at A.

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.

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

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