IAG strikes five-year cat ri deal with Berkshire and A$650mn Enstar ADC

Published: Mon 1 Jul 2024

IAG has purchased long-term natural perils volatility protection from Berkshire Hathaway and Canada Life Reinsurance providing up to A$680mn ($451mn) of limit annually for future events and a A$650mn adverse development (ADC) cover from Enstar to protect its A$2.5bn long-tail reserves for prior years.