interim dividend., page-10

Thanks for your reply, but look again at a recent announcement.

"Any additional claims events for the remainder of the year will cost the group a maximum of $10 million per event, with a limit of $300 million on recoveries under the aggregate cover program. "

So I was wrong on the original post thinking it was $250 million, - $300M is the most they can recoup from reinsurance. Its very likely they are at or above this level now, meaning no more reinsurance recoveries are likely.

It looks like they have bet the house buying some cheap reinsurance in the hope that no catastrophic weather events would occur. Its a bet it seems they will lose.