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  • Towers Perrin has named Derek Keating as an executive director of its London reinsurance brokerage business, effective 1 September.
  • 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.
  • Lloyd's has received its third rating confirmation in a month.
  • 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
  • Expansive UK run-off acquisition firm Randall and Quilter (R&Q) is growing its broker services division with the purchase of the discontinued operating subsidiaries of reinsurance broker Carvill Group, along with its legacy portfolios.
  • American International Group (AIG) has raised $2.5bn from its latest round of sales.
  • The British Insurance Brokers' Association (BIBA) has said that Mike Slack stepped down from its board at the end of July, after seven years.
  • 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.
  • US insurer WR Berkley has launched a new unit to write commercial cover in the US Pacific northwest market.
  • 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".