Admiral Extends UK Reinsurance Arrangements
February 12 2014 - 1:58AM
Dow Jones News
LONDON--Insurer Admiral Group PLC (ADM.LN) said Wednesday it has
extended its existing U.K. Car Insurance reinsurance partnerships
with Hannover Re, Mapfre Re, New Re and Swiss Re to at least the
end of 2016.
MAIN FACTS:
-There has been no material change to the cost or contractual
terms of these arrangements.
-Extended reinsurance arrangements are in addition to the
current agreement with Munich Re (covering 40% of the U.K.
business), which runs to at least the end of 2018.
-Admiral shares closed Tuesday at 1438 pence valuing the company
at 3.97 billion pounds.
-Write to Ian Walker at ian.walker@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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