Giant duo see reinsurance rates leap
Australian insurer Suncorp and Japanese co-operative Zenkyoren are widely thought to be two of the largest international (non-US) cat excess of loss (XoL) treaties in the market, with over $13bn of net limit between them and each with over 80 different markets.
Nor do the parallels end there. Both treaties are placed by Aon Benfield, both renewed on 1 July (Zenkyoren's 935bn yen/$11.6bn XoL treaty was delayed from 1 April because of the earthquake uncertainty) and both saw overall rates...
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