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  • Lord Levene is adamant that he can continue to fulfil his responsibilities as Lloyd's chairman despite his new role as executive chairman of an unnamed start-up looking to muscle its way into the UK consumer banking sector.
  • Xchanging has unveiled a deal with the International Underwriting Association of London (IUA) and the Lloyd's Market Association (LMA) to build enhanced electronic accounting within the existing Insurers' Market Repository (IMR) infrastructure.
  • R-T Specialty, the wholesale arm of Pat Ryan's broking start-up, has made its first acquisition, picking up California-based wholesaler Chartwell Independent Insurance Brokers.
  • Goldman Sachs has agreed to pay $550mn to the Securities and Exchange Commission (SEC) to settle charges that it defrauded investors over the sale of subprime mortgage products that ultimately cost its customers more than $1bn.
  • Matthew Fairfield, global operations CEO of Lloyd's insurer HCC, has resigned, The Insurance Insider can reveal.
  • CNA Financial Corporation has announced a deal to offload $1.6bn of asbestos and environmental pollution liabilities to US reinsurance giant Berkshire Hathaway.
  • Expansive London-based agency Dual Corporate Risks (DCR) has signed up Newline Syndicate 1218 to provide £10mn of excess capacity for directors' and officers' (D&O) business, while simultaneously raiding Axis Capital to bolster its team.
  • Specialty (re)insurer Markel Corporation has acquired privately owned US workers' compensation insurer Aspen for $135mn in cash.
  • Brazilian finance minister Guido Mantega is to set up a state-run insurance company designed to fund future infrastructure projects.
  • American International Group (AIG) chairman Harvey Golub has quit the firm over a rift with the group's CEO Robert Benmosche, and has been replaced with immediate effect by Robert S "Steve" Miller.