The Hartford Financial Services Group Inc. has announced the purchase of $247.5 million of multiyear, collateralized catastrophe reinsurance from Foundation Re Ltd., a Cayman Island reinsurance company.
Processing Content
The reinsurance consists of two coverages, The Hartford said on Thursday, one providing $180 million of reinsurance for losses in the Northeast and Gulf Coast regions from hurricanes and the other, $67.5 million of reinsurance for losses from certain U.S. earthquakes or hurricanes in the year after a major U.S. earthquake or hurricane.
