The Texas Windstorm Insurance Association (TWIA) has increased its target amount of reinsurance protection for the 2020 catastrophe year to $2.1 billion, with the Board directing TWIA staff to place a mix of traditional reinsurance and catastrophe bond protection. In December of last year, TWIA said that it expects to purchase an aggregate amount of… Continue reading TWIA Raises 2020 Reinsurance Target to $2.1 Billion
Tag: catastrophe bond
TWIA Secures $2.1B of Private Market Reinsurance & Cat Bonds for 2019
The Texas Windstorm Insurance Association (TWIA) has completed its 2019 reinsurance program, securing $2.1 billion of private market reinsurance and catastrophe bond protection for the 2019 Atlantic hurricane season. TWIA’s 2019 reinsurance program is effective June 1st, 2019 and provides total aggregate funding of $4.2 billion. 50% of this is from the private reinsurance market… Continue reading TWIA Secures $2.1B of Private Market Reinsurance & Cat Bonds for 2019
The Bond that Could Be Wiped Out by California’s Wildfires
The deadliest blaze in California’s history is threatening to cause losses for investors who purchased the first catastrophe bond designed specifically to cover wildfire risk. San Francisco utility giant PG&E Corp. sold the $200 million bond in August to insure against liability from future infernos. Three months later the Camp Fire in Northern California burned… Continue reading The Bond that Could Be Wiped Out by California’s Wildfires
Hannover Re’s Fifth Catastrophe Bond Transaction Raises Total Issuance for Clients to $1.5B in 2018
Hannover Re has completed the fifth catastrophe bond transaction for clients this year, raising the total issuance volume to $1.5 billion in 2018. “This year, we have once again provided protection for our clients against a multitude of risks,” said Henning Ludolphs, managing director retrocession and capital markets at Hannover Re. “The variety of cedants… Continue reading Hannover Re’s Fifth Catastrophe Bond Transaction Raises Total Issuance for Clients to $1.5B in 2018