Catlin signs $150m cat loss reinsurance contract to protect portfolio
Catlin Group has purchased a collateralised US$150m annual aggregate reinsurance contract which protects the group’s portfolio of property treaty reinsurance against accumulated losses from specific perils.
The company claims the transaction is unusual as it provides retrocessional ‘catastrophe bond’ type coverage for a diverse portfolio of property catastrophe exposures on an indemnity basis.
As it
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