RSA Insurance’s losses put collateralized reinsurance cover at risk

10/1/2018 5:51:00 AM

Source: Business Insurance

U.K.-based RSA Insurance Group P.L.C.’s severe weather and marine-related losses totaled £170 million ($222 million) at the end of the third quarter and any further losses could hit its collateralized reinsurance cover, reports. Under the terms of its three-year aggregate reinsurance cover, reinsurers will pay for losses which collectively go beyond £170 million in a single calendar year. RSA Insurance said that 9% of the reinsurance includes collateralized cover.