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  • A Fifth Circuit Court of Appeals has reversed its controversial March decision stating that BP is entitled to a portion of rig owner Transocean's $750mn insurance coverage.
  • Negotiations surrounding the sale of Heath Lambert's wholesale division to Cooper Gay were delivered another blow last week after it emerged that a major unit in the transfer will no longer be a part of the proposed deal.
  • Headline profits at the UK operations of AJ Gallagher International declined in 2011 as stronger underlying profitability was overborne by exceptional costs related to the major acquisition of retail broking house Heath Lambert
  • A new property treaty reinsurance underwriting team has been formed at Lloyd’s insurer Wellington Underwriting, headed by former Beazley catastrophe, risk & aggregate excess of loss underwriter Will Curran.
  • Kamp Re 2005, Zurich Financial Services' (ZFS) catastrophe bond, hit by losses from Hurricane Katrina soon after its launch, is due to be tested within the next month, after the bond's administrators finally filed a proof of claim notice on 30 October.
  • UK-headquartered international broker Jardine Lloyd Thompson (JLT) has agreed a deal to purchase Alexander Forbes Consultants & Actuaries Limited (AFCA) for a cash consideration of £17mn.
  • Lloyd's announced on 10 November that it had successfully set terms for its £500mn subordinated debt issue after an extensive road show that took it to investors in the UK and continental Europe.
  • Kelly Lyles has taken up the post of head of specialty lines at AIG Property Casualty's operations in Europe, the Middle East and Africa (EMEA), The Insurance Insider can reveal.
  • Australian (re)insurer QBE expects losses of around $125mn in its European operations from the 11 March earthquake and tsunami in Japan
  • The imminent expansion of the European Union – creating the largest trading bloc in the world – will benefit the insurance industry, according to actuaries Tillinghast.