trending Market Intelligence /marketintelligence/en/news-insights/trending/rEtMaqqgnXyLtTFO3fzJJw2 content esgSubNav
In This List

Saga to cover 75% risk of in-house underwriter's motor policies

Blog

Perspectives from China: The Shifting Regulatory Landscape

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Podcast

Street Talk | Episode 90: Banks should not wait on the Fed to put cash to work


Saga to cover 75% risk of in-house underwriter's motor policies

Saga Plcsaid March 30 that it signed a quota-share arrangement to cover 75% of the riskof the motor policies of its in-house underwriter, AICL, from Feb. 1.

The sole reinsurer agreement is with Munich Re unit NewRe. The initial arrangement is for threeyears, with the option to extend the deal on the same terms for a further threeyears.

Saga said that the quota-share agreement will significantly reduceits exposure to underwriting risk and will lead to a phased withdrawal of capitalfrom its underwriter.