IAG buys $750mn cat cover after losses

Australian carrier IAG has added a new A$1bn ($754mn) top layer to
its A$7bn catastrophe reinsurance treaty, in an active year for
local catastrophe losses.
In a statement, the insurer said the new top layer included one
prepaid reinstatement and would run for 19 months from 1 June 2017
to 31 December 2018.
It was placed at an 80 percent level, reflecting its 20 percent
quota share agreement with Berkshire Hathaway.
IAG's main reinsurance treaty runs for the calendar year...