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  • Gallagher UK is poised to buy the agency operations of London-headquartered Oxygen Holdings plc, The Insurance Insider can reveal.
  • RSA's UK chief executive Bridget McIntyre is stepping down, to be replaced by current chief operating officer Adrian Brown.
  • Hurricane Gustav has been downgraded to tropical storm status after skirting past New Orleans, with insured losses arising mainly from disruption to offshore oil and gas rigs.
  • Insider Publishing Ltd is delighted to announce the launch of Inside FAC, its latest title providing exclusive insight and analysis of the latest trends and developments in the growing global facultative marketplace.
  • Paul Lumbis, the former managing director at Guy Carpenter & Co Ltd's M&A division at GC Securities Ltd is to head a new corporate finance advisory practice Atlas Partners LLP, subject to regulatory approval.
  • There are signs of hardening in the marine market with Protection & Indemnity (P&I) and the Scandinavian hull sectors showing firmer rates, according to a report by the broker Willis Group Holdings.
  • Bermudian CastlePoint Reinsurance Company Ltd has agreed a $135mn deal to buy US excess and surplus (E&S) lines and admitted insurer Hermitage Insurance Group.
  • SCOR reported a 24.3 percent rise in half-year net profits as last year's Converium acquisition continues to fuel the reinsurer's results.
  • Poor investment performance sent the profits of US property and casualty (P&C) insurers tumbling by 95 percent during the first half of 2008 compared to the prior-year period, according to a report by Fitch Ratings.
  • Hurricane Gustav caused a flurry of trading on the Insurance Futures Exchange Services (IFEX) last week as a tropical storm, with $13mn of catastrophe derivative contracts traded as the storm gathered speed en route to the Gulf.