French reinsurer Scor has bolstered its catastrophe cover with a reinsurance protection programme of $150m (£103.7m), through Irish special-purpose vehicle Atlas Re II.
French reinsurer Scor has bolstered its catastrophe cover with a new reinsurance protection programme of $150m (£103.7m), through Irish special-purpose vehicle Atlas Re II.
The cover will protect Scor for a period of three years against the costs of earthquakes in California and Japan, and windstorms in Northern Europe.
The move complements Scor's existing $100m (£69.1m) per event cover, also from Atlas Re, which protects the company against the occurrence of a first event of the same nature.
The new cover provides coverage for a second or third event during a given year, with a $100m per event limit and a $150m limit over three years.
Scor said the extra protection enhanced its underwriting capabilities and optimised its management of catastrophe risks.
