Australian terror pool renews $3 billion retrocession reinsurance program
The Australian Reinsurance Pool Corporation (ARPC) has renewed its $3.315 billion retrocession reinsurance program and increased its reinsurance capacity by $250 million for the 2019 calendar year. The retrocession reinsurance program, plus ARPC’s net assets and the $10 billion Commonwealth guarantee, covers Australian-based commercial and eligible property assets of more than $13.7 billion in the event of a declared terrorism incident.