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Re-priced Hydra aggregate retro deal completes IG picture

19 February 2013

As the 20 February protection and indemnity (P&I) renewal deadline approaches, increases in the International Group (IG)'s P&I pricing have filtered through to terms for the aggregate retro cover that protects its captive Hydra, The Insurance Insider has learned.

The restructured and re-priced 2013/14 placement, which has now completed, saw Hydra increase its participation on the loss-hit first $500mn excess layer from 25 percent at expiry to 30 percent.

The captive then buys a retro protection to cover a $2bn...

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