Specialty insurer Ironshore is likely to significantly curtail its use of reinsurance following its sale to Liberty Mutual.
According to reinsurance underwriting sources, the Bermudian has already opted not to renew its 8 percent whole-account quota share with TransRe and PartnerRe.
Ironshore struck the deal on 1 January 2014 and, according to company filings, ceded 6 percent to TransRe and 2 percent to PartnerRe in 2015. The cover was seen as providing contingent capital to the insurer.
It is thought...
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