The reinsurance was purchased in two tranches, the first for $5.7bn in March 2007 and this provided cover over and above the $8.11bn of reserves set aside to meet claims obligations, for a total of $13.81bn.
In March 2007, reinsurance was purchased in two parts: a first tranche of $5.7 billion and a second for $8.11 billion, which added to the total amount of coverage set aside to cover claims obligations, reaching $13.81 billion.