Swiss Re and Horace Mann Educators, an auto, homeowner and life insurance provider to US teachers with $1 billion in revenues, have struck a three-year $75 million committed-capital deal. By the terms of the deal, if Horace Mann incurs catastrophic windstorm-related losses exceeding an undisclosed amount, the company has the option to sell $75 million in cumulative preferred securities to Swiss Re Financial Products Corporation, or to enter into a 10% quota share reinsurance agreement with Swiss Re America.
Source: Risk magazine | 05 Sep 2002
Categories: Foreign Exchange
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