Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Zurich leads exposed Petrobras D&O cover

Charlie Thomas 13 March 2015

Zurich leads the $250mn directors' and officers' (D&O) cover for Brazilian oil giant Petrobras with a $15mn layer, The Insurance Insider understands.

Petrobras, the government-managed Brazilian oil giant, has been in the throes of a corruption scandal for the past few months after dozens of political figures and former Petrobras executives were accused of facilitating corruption and money laundering.

Much will depend on the fine details of the Aon-brokered policy, but Petrobras' insurers are potentially exposed to a major claim...

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