Newly formed Bermuda-based insurer Allied World Assurance Co. (See IJ Website Nov. 27) announced that it has concluded an exclusive agency agreement with IPCRe Underwriting Services Limited. Beginning Dec. 1, it will begin writing property catastrophe treaty reinsurance with a capacity of up to $12.5 million per program.
IPCRe Underwriting is a wholly owned subsidiary of IPCRe, which in turn is a wholly owned subsidiary of Bermuda-based IPC Holdings Ltd. in which AIG has a majority interest. AIG is also a major shareholder in AWAC. It should be noted that these IPC entities are not related to the IPC unit of CRS Multirisk.
Was this article valuable?
Here are more articles you may enjoy.
Nuclear Verdicts Go Boom, Increase 40.7% in 2025 
Carnival Cruise Line Wins New Trial After $10M Verdict in Sex Assault Suit 
USI Sues 3 Former Producers After They Allegedly Moved Clients to Howden US 
As AI Agents Go Rogue, Cyber Insurers Are Adapting Their Policies 
