IAG cat order drops by 20%

Major Australasian insurer IAG has confirmed that the order on
its A$7.0bn ($5.1bn) catastrophe reinsurance treaty has been
slashed to 80 percent following the inception of its strategic
alliance with Berkshire Hathaway.
Last year IAG agreed a 20 percent quota share with
Berkshire Hathaway and has now adjusted its excess-of-loss
reinsurance purchase to reflect the new pro-rata protection.
In a statement released today (4 January), IAG said that it had
also restructured the top end of its catastr