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QBE shrinks cat aggregate cover at reinsurance renewals

Posted On: Feb. 20, 2023 9:50 AM CST


Australia-based QBE Insurance Group Ltd. expects to retain more risk this year, as its catastrophe aggregate reinsurance coverage shrunk at January renewals, with some layers non-renewed, Artemis reported. As a result, QBE has increased its catastrophe budget to $1.175 billion from $962 million due to the reduced reinsurance.