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  • The reinsurance sector could see significant new demand for limit as a result of provisions in the long-awaited National Flood Insurance Programme (NFIP) reform legislation passed by Congress today.
  • Hedge fund-backed reinsurer SAC Re is nearing the end of the fundraising process and is preparing to launch, The Insurance Insider understands
  • Berkshire Hathaway's deals with Australian mega-cedant Suncorp have sucked circa A$1.5bn of event limit out of the open market at 1 July and taken the heat out of a renewal that was expected to be difficult and expensive
  • The share price of Spanish (re)insurer Mapfre Group closed up 6 percent at EUR1.60 on 29 June following overnight news that Eurozone leaders would amend their aid rules to bolster the continent's creaking banking system
  • London law firm Reynolds Porter Chamberlain (RPC) has announced that it will be opening a Hong Kong office in August with an initial team of over 40 people, including five partners.
  • The US Senate is today (29 June) voting on a five-year extension for the National Flood Insurance Program (NFIP), after conferees from the US House of Representatives appeared to reach a final compromise over the hotly debated renewal of the state-backed scheme.
  • Hardy's sale to US P&C player CNA has been fully approved and the firm will delist from the London Stock Exchange on 3 July
  • American International Group (AIG) has decided to restore the AIG brand globally to the insurance units renamed three years ago after the global insurer's 2008 government bailout
  • The European Parliament has once again pushed back the date for the full plenary session to consider the proposed Omnibus II Directive to 22 October from its previous date of 10-13 September.
  • Phil Condon, the UK executive who was jailed for his involvement in the fraudulent Independent Insurance, died at the weekend, aged 63.