January 2, 2018 / 10:50 PM / 10 months ago

BRIEF-Insurance Australia Group Finalises 2018 Catastrophe Reinsurance

Jan 3 (Reuters) - Insurance Australia Group Ltd:

* IAG FINALISES 2018 CATASTROPHE REINSURANCE

* PROGRAM HAS BEEN CONSTRUCTED IN A SIMILAR MANNER TO PRIOR YEARS AND PROVIDES UP TO $8 BILLION GROSS REINSURANCE PROTECTION

* PROGRAM COVERS ALL TERRITORIES IN WHICH IAG OPERATES, WITH EXCEPTION OF ITS JOINT VENTURE INTEREST IN INDIA

* EXPERIENCED MODEST UPWARDS PRESSURE ON LIKE-FOR-LIKE REINSURANCE RATES DURING RENEWAL PROCESS

* COMBINATION OF CATASTROPHE COVERS IN PLACE AT 1 JAN RESULTS IN POST-QUOTA SHARE FIRST EVENT RETENTIONS OF $169 MILLION FOR AUSTRALIA

* PROGRAM HAS BEEN PLACED TO EXTENT OF 67.5% (2017: 80%) Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below