Suncorp targeted A$300mn more cat limit before Berkshire QS
Suncorp had intended to buy A$300mn more cat cover at the top of its programme for 2012/13, taking the limit out to A$6.1bn, before it struck a deal with Berkshire Hathaway to write a huge 30 percent quota share of its Queensland homeowners' book.
The news that Suncorp was set to buy more limit from the excess-of-loss market will again rub salt into the wounds of reinsurers that have taken vast losses from the world's second biggest cat cedant over...
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