OREANDA-NEWS. January 31, 2013. A new retrocession program of protection of Corporate portfolio of property damage and erection risks on foreign business took effect in “Transsiberian Reinsurance Corporation” from 1st January 2013.

Program limit on protection of property damage and erection risks portfolio amounts to USD 5 mln. at single loss. The program covers reinsured’s inward portfolio of Property business, including Property damage, Electronic Equipment, All risk policies, Business Interruption and Engineering business, including CAR, EAR, MB, Electronic Equipment Insurance. Territorial boundaries of this program coverage are spread throughout the world excluding USA, Canada, Japan, Australia and New Zealand.

All participants of the program are Lloyd’s syndicates and their financial strength is rated at A+ level by S&P and other rating agencies scale. JLT (UK) performed as placing broker for the program.

Besides, Transsib R” holds capacity of USD 6 mln. on marine program with worldwide coverage. More detailed information on current reinsurance capacity of Transsib Re can be found in the Corporate website or you can approach European Bureau of the Corporation.