Lancashire whips out Accordion for another year

Insurance underwriter Lancashire Holdings has renewed Accordion Insurance, its reinsurance 'side-car' vehicle set up to enable reinsurance contracts to be collateralised.

Insurance underwriter Lancashire Holdings has renewed Accordion Insurance, its reinsurance 'side-car' vehicle set up to enable reinsurance contracts to be collateralised.

Flexibly capitalised for up to $250 million, Accordion was launched in May 2011 as a fully collateralised side-car quota share reinsurance arrangement with an innovative capital draw down feature. Lancashire will extend the facility for at least another year.

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