IAG - A 10-year reinsurance program with Berkshire Hathaway

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The Insurance Australia Group (IAG) has signed a quota share reinsurance program for a 10-year period with Berkshire Hathaway. The cession and retention of this quota share are respectively 20% and 80% for the whole IAG portfolio.

This transaction has paved the way for a 500 million USD investment of the Amercian giant in its Australian partner. Berkshire Hathaway has then acquired 3.7% of IAG. The operation allows the Australian group to reduce its capital needs by 700 million USD over the next five years.

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Wed, 22/07/2015 - 09:59
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