Trenwick Sells LaSalle To Endurance
NU Online News Service, May 17, 4:20 p.m. EST?Trenwick Group Ltd. in Bermuda yesterday sold the in-force property catastrophe reinsurance business of its subsidiary, LaSalle Re Limited to Endurance Specialty Insurance, Ltd.
The business involved was as of April 1. Trenwick and Endurance effected the in-force business sale through a 100 percent quota share reinsurance agreement, with Endurance paying Trenwick a 25 percent ceding commission and additional profit sharing of 50 percent if losses do not exceed a loss ratio of 45.0, according to Trenwick.
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