Berkshire agrees to take $800mn chunk of Suncorp cat cover
Berkshire Hathaway is set to write an $800mn chunk of Suncorp's 1 July renewing main open market cat treaty, The Insurance Insider can reveal.
Combined with the approximately $200mn Berkshire had already agreed to write on the New Zealand buydown, this takes the group's single-event excess of loss exposure as high as $1bn.
According to sources, the investment conglomerate's reinsurance chief Ajit Jain agreed to write the lines on the programme while on a recent trip to Australia.
The Berkshire...
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