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Circular (UW) 04/2016 Iran Trading - Increased limit of fall-back cover

April 18, 2016Circulars
As previously notified, the International Group has bought "fall-back" cover, which is designed to respond to reinsurance recovery shortfalls that would result from the inability of US-domiciled reinsurers on the Group GXL and Hydra reinsurance programmes to make payments due to the continuing application of US primary sanctions, for the 2016/17 policy year.

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