American Ag to dismantle mammoth retro programme
American Agricultural is set to dismantle the complex master-slip arrangement that it has used for many years to cede hundreds of millions of dollars of cat premium from its Farm Bureau reinsureds into the international market, The Insurance Insider understands.
Instead of asking brokers Guy Carpenter and Towers Watson to place the Farm Bureau retro cover as a whole, the reinsurance brokers will be instructed to place separate cat programmes for each of the Farm Bureaux.
According to sources the...
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