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Terrorism reinsurer renews $2.4 billion retro program

Posted On: Jan. 19, 2023 9:30 AM CST


Terrorism reinsurer Australian Reinsurance Pool Corp. has renewed its retrocession program for this year with the same amount of coverage as in 2022 at $3.5 billion Australian ($2.41 billion), Reinsurance News reported. The retrocession, in addition to the reinsurer's net assets and the AUD10 billion Commonwealth guarantee, provides over AUD14 billion in pool capacity in response to a declared terrorism incident affecting commercial and other eligible property assets.