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