Petroecuador tender process creates havoc among reinsurers
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Petroecuador tender process creates havoc among reinsurers

Panorama of Quito - Ecuador as seen from the Panecillo, a 200-metre-high hill of volcanic-origin

Reinsurers and their brokers have been left in disarray over the status of Petroecuador’s (re)insurance cover, after a judge ordered the oil company to re-run part of its tender process 

At stake is the insurance contract for the state-owned oil company’s oil and civil liabilities risks, worth around $50mn in premium over...

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