TWIA

The staff of the Texas Windstorm Insurance Association (TWIA) is set to recommend lawmakers consider a variety of ways to reduce its reinsurance purchases going forwards, primarily by amending the rules to allow other areas of statutory funding to be increased.

Having already secured its largest ever catastrophe bond issue this year, the Texas Windstorm Insurance Association (TWIA) is now ready to sign lines for its reinsurance renewal, with support secured for the rest of its capacity needs, according to staff and broker Gallagher Re’s executives.

For 2024, the funding tower of residual market insurer the Texas Windstorm Insurance Association (TWIA) will see catastrophe bonds as its largest component, providing 32% of the funding limit needed to meet the statutory 1-in-100 year probable maximum loss for the coming hurricane season.

The Texas Windstorm Insurance Association (TWIA) has now secured the upsized target of $1.4 billion of collateralized reinsurance from its new Alamo Re Ltd. (Series 2024-1) catastrophe bond, as the deal has now priced which confirms it will be the second biggest cat bond ever issued.

The Texas Windstorm Insurance Association (TWIA) has for a second time lifted the target size of its new Alamo Re Ltd. (Series 2024-1) catastrophe bond, with the residual market insurer now aiming to secure $1.4 billion of reinsurance from the capital markets with this deal.

The Texas Windstorm Insurance Association (TWIA) is now targeting sponsorship of what could be the second largest catastrophe bond issuance the market has ever seen, as the size of its new Alamo Re Ltd. (Series 2024-1) issuance has doubled to $1.2 billion, with the pricing narrowed towards the lower-end for each tranche of notes.

The Texas Windstorm Insurance Association (TWIA), the residual market property insurer for the State of Texas, has returned to the catastrophe bond market seeking to place a large $600 million Alamo Re Ltd. (Series 2024-1) issuance as it looks to build-out its reinsurance for the years ahead with the help of the capital markets, Artemis […]

The Board of the Texas Windstorm Insurance Association (TWIA) met today and has confirmed a 1-in-100 year PML for 2024 funding purposes at a new high of $6.5 billion, meaning the insurer of last resort will seek to require just over $4 billion in reinsurance limit for the 2024 wind season.

The Texas Windstorm Insurance Association (TWIA) could need even more reinsurance limit for the 2024 wind season, as its exposure growth drove its Actuarial and Underwriting Committee to recommend the Board sets a 1-in-100 year PML for funding purposes at a new high of $6.5 billion.

The Texas Windstorm Insurance Association (TWIA) may require more reinsurance limit than had been originally thought, as modelled data shows the insurer of last resort could look for as much as $3.7 billion for its 2024 renewal, almost $1.5 billion up on TWIA’s 2023 reinsurance and catastrophe bond purchase.