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Insurance Australia Group to share premiums with reinsurers
December 7, 2017 / 10:47 PM / 8 days ago

Insurance Australia Group to share premiums with reinsurers

Dec 8 (Reuters) - Insurance Australia Group Ltd said on Friday that it had entered agreements to share its premiums with reinsurers Munich Re, Swiss Re and Hannover Re.

Under the agreement, the reinsurers will receive a combined 12.5 percent of the company’s consolidated gross earned premium and pay 12.5 percent of claims and expenses, Insurance Australia said in a statement.

Reporting by Ambar Warrick in Bengaluru

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