Paris Re enters quota share deal

HAMILTON, Bermuda—Paris Re has entered into a quota-share reinsurance agreement with Triomphe Re Ltd.

Under the terms of the deal, Paris Re—which formerly was the reinsurance unit of Paris-based AXA S.A.—will cede 24% of its property catastrophe excess-of-loss and risk excess-of-loss reinsurance business for 2007 and 2008 to Triomphe Re.

Triomphe Re was capitalized with about $185 million, Paris Re said in a statement.