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P&C reinsurance

XL Catlin lifts global property insurance capacity to $500m

7th June 2017

Insurer and reinsurer XL Catlin has increased its global property insurance capacity by 25% to $500 million, and which the company says is available on a quota share or layered basis. The 25% capacity extension enables the re/insurer to address more of its domestic and international property insurance needs, as clients increasingly ... Read the full article

Berkshire Hathaway in $1.5bn reinsurance agreement with The Hartford

3rd January 2017

Warren Buffett’s National Indemnity Company (NICO), a Berkshire Hathaway Inc subsidiary, has entered into a $1.5 billion aggregate excess of loss reinsurance agreement with The Hartford. With a reinsurance premium set at $650 million, the agreement will provide $1.5 billion of reinsurance covering adverse net loss reserve development on ... Read the full article

SCOR receives R3 approval from the IRDAI to establish regional branch

28th December 2016

Insurer and reinsurer SCOR has received R3 approval from the Insurance Regulatory and Development Authority of India (IRDAI) to establish a Composite Branch office in the region, the company has announced.  SCOR is the latest global re/insurer to receive R3 authorisation, after the IRDAI granted approval to five other reinsurance ... Read the full article

Even Munich Re’s normalised combined ratio nears breakeven

8th December 2016

International financial services ratings agency, Fitch Ratings, has commented on the impact the softening reinsurance market is having on the underwriting profitability of reinsurer Munich Re, stating that the company's P&C reinsurance normalised combined ratio deteriorated to 99.9% in the first nine months of 2016. Lower than expected losses from natural ... Read the full article

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