Endurance reassures on crop exposures
With US drought conditions looking to be the worst since 1988, leading crop (re)insurers have been trying to reassure investors over potential exposures.
While Ace Limited is the biggest overall writer of multi-peril crop insurance (MPCI) under the federal-backed programme, Endurance is potentially the most exposed as its book of business accounts for a greater percentage of its premium base and it has relatively higher net retentions.
According to analysis from Stifel Nicolaus, the Bermudian's exposure is equivalent to around...
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