The Foreign Syndicate provides reinsurance to foreign nuclear pools for placement at nuclear facilities overseas and in Canada and Mexico. Reinsurance is assumed on a facultative basis except in Japan, where third party liability business is assumed under a quota share treaty.
The Foreign Syndicate also writes direct liability coverage for U.S. suppliers of products or services to foreign nuclear facilities. In Canada, the coverage written is primarily liability. It is written on a co-insurance basis with other nuclear insurance pools, including the Canadian pool.
The Foreign Syndicate typically contributes more than 40% of ANI’s total operating results, making it a very attractive business opportunity for ANI’s member companies.
Significant Events: Annual Industry Average FY 1998-2004
Data source: United States Nuclear Regulatory Commission Digest 2005