Zurich Insurance increases reinsurance coverage under global cat treaty
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Swiss insurer Zurich Insurance Group Ltd. has changed its global catastrophe treaty reinsurance for this year, increasing the cover to $1.2 billion for all perils across Europe, the U.S. and rest of the world, while reducing the retention for European perils to $434 million from the previous $476 million, Artemis reported. Meanwhile, Zurich has revealed that in the first half of the year, it increased the amount of premiums ceded to reinsurers and retrocessional capital sources by 7% year-on-year.
