Wednesday, 20th February 2013
Group 2013/14 GXL and Collective Overspill Reinsurance programme and Hydra retrocession renewals
The Group has now completed the placement for the 2013/14 policy year of the first three layers of the Group’s GXL reinsurance programme together with the Collective Overspill layer.
For 2013/14, the GXL programme attachment has been increased from US $60 million to US $70 million, and the Hydra coinsurance within the First General Excess layer (US $500 million excess of US $70 million) has been increased from 25% to 30%. The placement of the reinsurance of the 30% Hydra participation on the First General Excess layer (US $500 million excess of US $70 million) has also been completed.