Informa Insurance News 24
QBE STRIKES 334M LEGACY DEAL WITH CATALINA
QBE Insurance Grouphas entered into a loss portfolio transfer agreementwith legacy specialist Catalina, writes Michael Faulkner. The deal covers QBE’s legacy North American excess and surplus lines prior accident-year liabilities. The reinsured portfolio consists of primary and excess general liability policies that were underwritten by subsidiaries of QBE between 2016 and 2020. Bermuda-based Catalina will assume losses incurred on the portfolio on or before December 31, 2021, the reserves for which stood at approximately $334m as at year-end 2021.