logo
Plus   Neg
Share
Email

Saga Enters Into New Quota Share Arrangement With NewRe, Hannover Re

Saga plc (SAGA.L) Monday said it has entered into a new quota share arrangement with NewRe and Hannover Re to cover 80 percent of the underwriting risk of motor policies of the Group's in-house underwriter, AICL, to take effect from February 1, 2019. The new agreement provides three years of cover on a rolling basis.

Saga said, the increase of the quota share arrangement from 75 to 80 percent share is in line with its overall strategy and further reduces its exposure to underwriting risk.
The new quota share agreement adds Hannover Re to Saga's current reinsurance partner NewRe, and replaces existing quota share arrangement which is due to expire on January 31, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
McDonald's Corp. has announced the return of its popular Shamrock Shake milkshake for a limited time at participating U.S. restaurants nationwide. The minty green milkshake is made with McDonald's vanilla soft serve blended with Shamrock Shake syrup and topped with whipped topping. It first debuted on the McDonald's menu in 1970 and has been a seasonal tradition for nearly 50 years. Asia-focused lender HSBC, through its blockchain-powered platform, has reduced the cost of settling foreign exchange trades by 25 percent, Reuters reported quoting a bank executive overseeing the project. Mark Williamson, chief operating officer of FX cash trading and risk management, told that the bank processes between 3,500 and 5,000 trades a day on its "FX Everywhere" system. PepsiCo, Inc. (PEP) reported fourth-quarter core EPS of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per...
Follow RTT