EUR1.5bn Turkish cat pool programme unlikely to attach
28.10.2011
The Munich Re and Swiss Re-dominated reinsurance programme of the Turkish Catastrophe Insurance Pool (TCIP) is likely to escape a loss after yesterday´s 7.2 magnitude earthquake due to its substantial retention.
According to underwriting sources on the Willis Re-brokered
programme, early indications suggest that the loss from the
earthquake near the eastern city of Van will fall some way short of
the EUR175mn attachment point on the EUR1.5bn 2010/11 treaty.
