QBE
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The late July High Court hearing will also involve Arch, Argenta and QBE.
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The insurer has a $75mn retention in place under its treaty.
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The reinsurance plan will reduce its North American peak peril retention.
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Richard Pryce will be succeeded by Jason Harris, who has spent over three years at Axa XL.
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Jonathan Parry, current CEO of QBE's reinsurance group, will retire in a year's time. -
The insurer lifted the attachment on an aggregate portion of its group reinsurance treaty, which was otherwise unchanged after its restructure for 2019.
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The Insurance Council of Australia anticipates many more claims in the coming weeks.
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More than 150 homes have been destroyed as fires blaze across New South Wales and Queensland, according to reports.
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The insurer’s overall cat losses were below its budget as higher Australian disaster activity was offset by benign international claims.
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The expected losses from the December hailstorm in Sydney have risen from A$871mn to A$1.2bn.
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The insurer reiterated the details of its restructured group reinsurance programme.
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Sources said that Berkshire Hathaway will not support the cover for 2019.
