Insurance Australia (ASX:IAG) renews Berkshire Hathaway quota share agreement – The Market Herald

Insurance Australia (IAG) has renewed its largest whole of account quota share (WAQS)
agreement with Berkshire Hathaway’s National Indemnity Company (NICO).
The renewed agreement represents 20 per cent of the total 32.5 per cent WAQS program and will be in place through to December 31, 2029.
IAG has now renewed 30 per cent of the 32.5 per cent WAQS, with negotiations on the remaining 2.5 per cent expected to be completed in the coming months.
Chief Financial Officer Michelle McPherson said Berkshire Hathaway is a key partner of IAG and the company is pleased to extend its strong relationship,
“The Berkshire Hathaway agreement delivers IAG a materially consistent financial outcome to the original agreement and supports our 15 to 17 per cent medium-term reported margin target,” Ms Hathaway said.
“The terms of the renewed agreement with Berkshire Hathaway’s NICO reflect the maturing of our partnership, and the removal of supporting subscription and strategic relationship agreements provides consistency with our other quota share partner arrangements.”
Shares in IAG were up 0.84 per cent, trading at $4.80 at market close.


Related Posts

Anne Hathaway Says She and James Franco "Sucked" at Hosting Oscars – E! NEWS

Anne Hathaway isn't mincing words about her Oscars hosting gig with James Franco. The actress, 39, revealed what she really thinks of their 2011 performance as emcees during the Oct….

Anne Hathaway, Jeremy Strong, Anthony Hopkins form a Jewish film … – The Jerusalem Post

Anne Hathaway, Jeremy Strong, Anthony Hopkins form a Jewish film …  The Jerusalem Postsource

Berkshire Hathaway: Warren Buffett further unwinds BYD investment … – CNN

Berkshire Hathaway: Warren Buffett further unwinds BYD investment …  CNNsource

Berkshire Hathaway Inc. Cl B stock underperforms Tuesday when compared to competitors – MarketWatch

Shares of Berkshire Hathaway Inc. Cl B BRK.B slipped 0.31% to $305.55 Tuesday, on what proved to be an all-around mixed trading session for the stock market,…

Donald S. Hathaway Jr. – Ocala News

Donald S. Hathaway Jr. passed away on his 61st birthday, Tuesday November 15, 2022.Don grew up in New Vernon, NJ and attended Bayley Ellard high school. After…

Anne Hathaway tells 'The View' that 'abortion can be another word … – Fox News

This material may not be published, broadcast, rewritten, or redistributed. ©2023 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least…

Leave a Reply

Your email address will not be published. Required fields are marked *