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TWIA targets at least $2.1bn of reinsurance & cat bonds for 2019

The Texas Windstorm Insurance Association (TWIA) will aim to secure at least $2.1 billion of protection from the global reinsurance and insurance-linked securities (ILS) market for the 2019 hurricane season, taking its total claims-paying capacity to at least $4.2 billion.TWIA's Board this week approved its staff to go to market read the full article →

New 2018 reinsurance & cat bonds help TWIA support its policyholders

The Texas Windstorm Insurance Association (TWIA), the residual market property insurer for the Texas coast, completed a successful 2018 reinsurance placement recently with the combined coverage of catastrophe bonds and traditional coverage helping to ensure it is there to support its policyholders when disasters strike.TWIA’s 2018 reinsurance and funding program, read the full article →

TWIA’s reinsurance to grow 24% to $2.6bn, as Harvey loss rises

The Texas Windstorm Insurance Association (TWIA) is set to procure a new $1.4 billion layer of reinsurance and catastrophe bonds in 2018, taking its overall private market program to $2.6 billion, a 24% increase from the size of its program a year ago, helping to cover a funding gap created read the full article →

TWIA to put cat bonds & reinsurance at heart of 2018/19 funding

The Texas Windstorm Insurance Association (TWIA), the largely coastal residual market property insurer in the state, is to return to the catastrophe bond and reinsurance market to secure a new program for 2018, which could result in more capacity being purchased after some of its financial protection has been eroded read the full article →

Cat bonds help TWIA surpass funding expectations for hurricane season

The Texas Windstorm Insurance Association (TWIA) has secured $4.9 billion in total aggregate funding for the 2017 hurricane season, which includes $1.1 billion of catastrophe bonds and around $800 million in the Catastrophe Reserve Trust Fund (CRTF).TWIA’s 2017 renewal includes $2.1 billion in reinsurance, which is slightly down on the read the full article →

TWIA might save using more cat bonds, may sponsor again in 2017

The Texas Windstorm Insurance Association (TWIA) could potentially save as much as $28 million by shifting its traditional reinsurance cover to the capital markets, although there is yet to be any formal analysis as to the impact of such a transition.During a recent TWIA Board of Directors meeting, held Tuesday read the full article →

TWIA to top up with $1.1bn traditional & collateralized reinsurance

The Texas Windstorm Insurance Association (TWIA) is set to purchase an additional $1.1 billion of reinsurance coverage for the 2016 hurricane year, from both traditional and fully-collateralized sources, taking its total reinsurance coverage for the year to $2.2 billion.TWIA’s Board of Directors has unanimously approved the recommendations of its Actuarial read the full article →

TWIA to tweak reinsurance for 2016, may add second-event protection

The Actuarial Committee of the Texas Windstorm Insurance Association (TWIA), the residual market or last-resort property insurer for Texas, is set to seek approval to purchase slightly less first-event reinsurance protection in 2016, but may add a second-event cover.When we say slightly less reinsurance, it is only $100m of limit read the full article →

TWIA to reset Alamo Re cat bonds to fit with 2016 reinsurance program

The Texas Windstorm Insurance Association (TWIA), the residual market or last-resort property insurer for Texas, is planning to reset its Alamo Re catastrophe bonds to fit within its 2016 program, as it plans an increase in its reinsurance retention.TWIA has two in-force catastrophe bond transactions currently, the $400m Alamo Re read the full article →

TWIA’s Alamo Re cat bonds designed to “interact seamlessly”: GC Securities

GC Securities said it designed the Alamo Re catastrophe bond shelf program, for sponsor the Texas Windstorm Insurance Association (TWIA), to allow the three tranches of notes, including the two from the recent $700m Alamo Re Ltd. (Series 2015-1), to "interact seamlessly."TWIA's $700m Alamo Re Ltd. (Series 2015-1) catastrophe bond read the full article →