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  • Local runner Idrissa Kargbo beat a field of 386 runners - including 70 from the UK - to win the inaugural Kiln Sierra Leone marathon on Saturday (9 June)
  • The European Insurance and Occupational Pensions Authority (Eiopa) has said that the majority of insurance companies remain well capitalised under the current Solvency I rules
  • The Bermuda Monetary Authority (BMA) has established group supervision for the island's insurance market as well as a Bermuda-specific solvency self-assessment for commercial insurers after the jurisdiction was found to have some gaps in Solvency II equivalency last October.
  • American International Group (AIG)'s P&C insurer Chartis is to cut its reinsurance purchasing by up to 25 percent in 2012 across both treaty and facultative programmes, sister title Inside FAC revealed today (11 June)
  • Travelers has issued its new $250mn Longpoint Re III cat bond and will pay investors an insurance-related coupon of 6 percent, our sister title Trading Risk understands.
  • European insurance stocks with exposure to peripheral Eurozone debt were the major beneficiaries of the global market rally that followed the EUR100bn Spanish banking bailout being announced over the weekend.
  • The convergence sector's 14 percent market share of the global cat reinsurance limit placed signifies a watershed in its development, according to Guy Carpenter vice chairman David Priebe.
  • Despite US commercial insurers "doubling" efforts to achieve better underwriting results, the price rises being sought by underwriters are being significantly dampened by excess capital in the marketplace.
  • US property and casualty insurers have just $11.7bn of redundant reserves left on their books, which at the current rate of release could disappear in just over a year, according to an Aon Benfield study.
  • Former Omega CEO Richard Tolliday received around $3mn from the Bermudian reinsurer to drop his case in the out-of-court settlement made in March, The Insurance Insider understands