Australia renews retrocession programme for terrorism insurance scheme

Australia’s terrorism insurance scheme has renewed its $3.475bn retrocession reinsurance programme for the 2021 calendar year. The scheme is administered by the Australian Reinsurance Pool Corporation (ARPC), and the retrocession programme and ARPC net assets are the first layers of funding for claims in the event of a terrorism incident. The 2021 placement of $3.475bn of retrocession capacity includes approximately…

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