Pool Re ups retro cover to £2.5bn
The three-year agreement triggers if losses top £400m in a year.
Pool Re has confirmed the placement of its retrocession programme with more than 50 international reinsurers.
The placement provides £2.5bn of cover, up from £2.475bn, and is led by Munich Re with Hannover Re and Fidelis among those providing significant capacity.
The terrorism reinsurer highlighted the programme reflected the underlying insurance provided by Pool Re through its member insurers. It covers property damage arising from nuclear, biological, chemical, and radiological attacks
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