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  • Despite its penchant for self-insurance, UK energy company BP purchased a $400mn Side A directors and officers (D&O) policy in the commercial market via broker Marsh Ltd, The Insurance Insider can reveal.
  • Despite its penchant for self-insurance, UK energy company BP purchased a $400mn Side A directors and officers (D&O) policy in the commercial market via broker Marsh Ltd, The Insurance Insider can reveal.
  • UK legacy manager and service provider Randall & Quilter (R&Q) said in a trading statement today (9 August) that it expects profits for the first half of the year to be "materially ahead of market expectations", after reaping higher rewards from the reinsurance to close (RITC) of Syndicate 3330.
  • Rhode Island regulators in a potential landmark decision have given the initial green light to the first accelerated run-off plan in the US.
  • Accounting rules for (re)insurers writing long-tail risks and using one of the two recognised international standards are likely to get more complicated, following proposed changes announced last week.
  • The far-reaching US Wall Street Reform and Consumer Protection Act will increase business opportunities for the London market and make it easier for companies to insure US risks, according to the International Underwriting Association (IUA).
  • Swiss drilling contractor Transocean faces 249 separate lawsuits stemming from the total loss of the Deepwater Horizon oil drilling platform in April
  • Jardine Lloyd Thompson (JLT) has entered the space market, winning its first contract with top-10 satellite operator Arabsat.
  • Marsh and its reinsurance arm Guy Carpenter both secured modest organic growth and margin improvements, as parent company MMC returned to the black with a 28 percent rise in adjusted profits for the second quarter.
  • Ex-Besso broker Timothy Barker was jailed for three-and-a-half years for a fraudulent scheme to inflate performance figures and boost his bonuses.