Pool starts operation

Premiums for large industrial risks in France have risen by around 18% during the first two months of this year. A few insurers have limited their rate rises to just 15% but others have asked for 21% or more. Meanwhile, the pool for reinsuring terrorist attacks, christened Gareat, is starting operations. Insurers will contribute €31mn (US$27mn) as part of the first tranche of payments by 30 April.