Sagicor withdrawal forced by First Central losses
Lloyd’s insurer Sagicor’s decision to quit both property treaty reinsurance and casualty treaty reinsurance was forced by huge losses incurred through its tie-up with Gibraltar-based motor insurer start-up First Central, Post understands.
Sagicor Europe suffered a net loss of $13.1m (£8.4m) last year, compared to $13.7m profit the year before, blaming global catastrophes and losses in private motor insurance.
A source told Post: “It
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