IAG increases its reinsurance cover to A$9 billion

Thu, 03 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - Australia-based IAG Group says it has increased its catastrophe reinsurance protection for calendar 2019 by A$1 billion to A$9 billion. That includes the 20 percent quota share with Warren Buffett’s Berkshire Hathaway which began on July 1, 2015 and the combined 12.5 percent quota share agreements with Munich Re, Swiss Re and Hannover Re which came into force from Jan. 1, 2018. IAG, which commands about 46 percent of New Zealand’s general insurance market, operating through the NZI, State, AMI and...

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