Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

24 February 2018

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Liberty Mutual benefits from aggregate reinsurance recoveries

10 November 2017

Liberty Mutual executives told investors that the company had recorded gross catastrophe losses of just over $2bn from Hurricanes Harvey, Irma and Maria, which reduced to $1.2bn after reinsurance recoveries.

Hurricane Harvey triggered about $200mn of reinsurance recoveries from a cover bought after 1 January that triggered in excess of $500mn losses, executives of the Boston-based carrier said during a conference call to discuss third quarter results.

The insurer recouped another $150mn under its aggregate cover in connection with the...

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