AIG first major buyer in market for post-Irma cover

AIG released firm order terms to the market on Friday (8
September) for a $1bn back-up catastrophe cover as it moved
quickest in the scramble to secure what could be limited post-loss
capacity, The Insurance Insider can
reveal.
New AIG CEO Brian Duperreault ordered his broker into the market
to buy a $1bn cascading limit that sits excess of AIG's current
cat tower, but which will drop down depending on the extent of its
losses from Harvey and Irma.
However,...