International Group agrees 7.5% layer one reduction on $3.1bn reinsurance tower
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International Group agrees 7.5% layer one reduction on $3.1bn reinsurance tower

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The International Group of P&I Clubs (IG) has secured a 7.5% rate reduction on the first layer of its $3.1bn reinsurance tower, despite ongoing hard market conditions in the wider reinsurance market, this publication can reveal.  

The rate reduction applies to the $650mn layer of coverage, excess $100mn, with the upper layers of the programme anticipated to renew with pricing and structure unchanged.

Axa

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