REINSURANCE DEAL FOR PAKISTAN’S HYDRO ELECTRIC PROJECT NEAR COMPLETION

The Pakistan government is reported to be putting the final details on a reinsurance deal for its controversial hydro-electric power project. The power plant is based in the Kashmir region, which is occupied by Pakistan but has long been an area of political dispute between India and Pakistan. It is expected to cost $1.5 billion to build and has been the subject of concern from the Indian government. According to the Press Trust of India a Chinese consortium of reinsurers are close to agreeing a reinsurance deal for the project with Pakistan-based Adamjee Insurance, one of the insurers involved, adding that it expects to conclude the deal in late April.