Australian insurer IAG has struck a strategic five-year deal with Berkshire Hathaway and Canada Life Reinsurance to gain long-term reinsurance protection against natural perils volatility, as well as secured adverse development protection for its A$2.5 billion long-tail reserves from Enstar.
The company said the two strategic agreements with global reinsurers will help improve its future financial stability.
IAG’s five-year natural perils reinsurance agreement with Berkshire subsidiary…
