FinTechFunding

Insurance Australia: Renews Berkshire Hathaway quota share agreement

Insurance Australia Renews Berkshire Hathaway quota share agreement

  • Insurance Australia (IAG) renews its largest whole of account quota share (WAQS) agreement with Berkshire Hathaway’s National Indemnity Company (NICO)
  • The renewed agreement represents 20 per cent of the total 32.5 per cent WAQS program and will be in place to December 31, 2029
  • IAG has now renewed 30 per cent of the 32.5 per cent WAQS, with negotiations on the remaining 2.5 per cent expected to be completed in the coming months
  • Chief Financial Officer Michelle McPherson said Berkshire Hathaway is a key partner of IAG and the company is pleased to extend its strong relationship
  • Shares in IAG ended the day up 0.84 per cent at $4.80 each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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