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By Shivangi Lahiri
(Reuters) - Shares of Insurance Australia Group rose 9% on Friday after the company bought reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance in a bid to minimise financial fluctuations for the next five years.
The insurance firm jumped as much as 9.3% to trade at A$7.280 by 0049 GMT, their highest level since Jan. 24, 2020. Stock emerged the top gainer in the benchmark S&P/ASX 200 index.
The Sydney-based insurer said the agreements would p...
>>> Read more: Insurance Australia tops benchmark index on reinsurance deals
(Reuters) - Shares of Insurance Australia Group rose 9% on Friday after the company bought reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance in a bid to minimise financial fluctuations for the next five years.
The insurance firm jumped as much as 9.3% to trade at A$7.280 by 0049 GMT, their highest level since Jan. 24, 2020. Stock emerged the top gainer in the benchmark S&P/ASX 200 index.
The Sydney-based insurer said the agreements would p...
>>> Read more: Insurance Australia tops benchmark index on reinsurance deals
