TT CLUB INCREASES PREMIUM UNDERWRITING CAPCITY
TT Club, the London-based insurer of liability risks in international transport, has entered into quota share reinsurance contracts to increase its premium underwriting capacity.
The contracts were made with Swiss Re and with an undisclosed reinsurance group.
The two contracts will enable TT Club to underwrite additional premiums of up to $36 million in 2002 and a further $48 million in 2003.
TT Club, a mutual, had been unable to take additional insurance business because of insufficient capacity.