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.
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.