Up to $1bn Concordia bill
to cost the industry $750mn-$1bn, with losses widely spread around the market, according to the full details of the $500mn hull insurance placement obtained by The Insurance Insider.
Norwegian marine specialist Gard, RSA, Lancashire and Lloyd's lead XL head the slip while the P&I is jointly placed with The Standard and Steamship Mutual clubs.
However, in a market where reliance on reinsurance support is a key feature, leading hull excess of loss reinsurers are likely to be the major single...
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