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The Texas Windstorm Insurance Association (TWIA) has successfully secured the pricing of its new Alamo Re Ltd. (Series 2018-1) multi-peril catastrophe bond at the increased target size of $400 million, while the coupon settled 13% lower than the initial mid-point of price guidance.

The latest catastrophe bond issuance sponsored by the Texas Windstorm Insurance Association (TWIA) could be set to increase in size, as we understand that the Alamo Re Ltd. (Series 2018-1) multi-peril cat bond is now targeting up to $400 million of collateralized reinsurance for the residual market property insurer.

The Texas Windstorm Insurance Association (TWIA), the residual market property insurer for the state, is returning to the catastrophe bond market with a fourth transaction in its Alamo Re series of deals, a $300 million or greater Alamo Re Ltd. (Series 2018-1) multi-peril cat bond.

The Texas Windstorm Insurance Association’s (TWIA) latest Alamo Re Ltd. (Series 2017-1) catastrophe bond is now set to achieve its upsized target of $400 million, while at the same time the cost of the reinsurance coverage looks particularly efficient with pricing of the coupon now fixed at below guidance.

The Texas Windstorm Insurance Association’s (TWIA) target for its third catastrophe bond transaction, Alamo Re Ltd. (Series 2017-1), has been lifted while the deal is being marketed, with the insurer now seeking up to $400 million of reinsurance coverage and at keener pricing, as the guidance has now been lowered.

The Texas Windstorm Insurance Association (TWIA) is returning to the catastrophe bond market for its third transaction, a $250 million Alamo Re Ltd. (Series 2017-1) deal, which again sees Hannover Re acting as the sponsor, but this time the cat bond will cover TWIA for losses from Texas severe thunderstorms for the first time, alongside […]

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.

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.”

The Texas Windstorm Insurance Association’s (TWIA) $400m Alamo Re Ltd. (Series 2014-1) catastrophe bond has had its rating upgraded by Fitch, after the insurer elected to use the variable reset feature to lower the attachment probability on the notes.

The Texas Windstorm Insurance Association (TWIA) is delighted with the response to its latest catastrophe bond from ILS investors and capital markets, helping it to secure an additional $700m of reinsurance capacity from Alamo Re Ltd. (Series 2015-1).