MELBOURNE, Australia--General insurer Insurance Australia Group Ltd. (IAG.AU) has put in place reinsurance to cover catastrophe losses of up to 8 billion Australian dollars (US$6.24 billion) in 2018.
Set in a similar manner to past years, IAG said it retains the first A$250 million of each loss.
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The reinsurance program covers all territories where IAG operates, except for its joint venture business in India which has its own reinsurance arrangements, the Australian insurer said.
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(END) Dow Jones Newswires
January 02, 2018 17:39 ET (22:39 GMT)