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International

QBE boosts reinsurance limit, dodges rate hike with early renewal

December 12, 2018 Reprints

Australia-based QBE Insurance Group Ltd. has increased its reinsurance limit by more than $1 billion and avoided rate increases despite recent catastrophe losses by advancing its 2019 renewals, Artemis.bm reports. QBE said that the reinsurance will provide it with greater protection against major catastrophe losses. Additionally, the insurer's Bermuda-based unit Equator Reinsurance Ltd. will take more losses off QBE’s book and cede more premiums to third-parties through a 50% quota share arrangement.

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QBE boosts reinsurance limit, dodges rate hike with early renewal

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