In renewing its $2.1 billion reinsurance and catastrophe bond program for 2020, the Texas Windstorm Insurance Association (TWIA) paid some 19% more in terms of overall rate-on-line (ROL) compared to the prior year.
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The Texas Windstorm Insurance Association (TWIA) has successfully secured the $2.1 billion of reinsurance protection it was targeting for the 2020 storm season, with its new catastrophe bond and its doubling in size a key piece of the renewal for the residual market insurer.
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The Texas Windstorm Insurance Association’s (TWIA) new Alamo Re II Pte. Ltd. (Series 2020-1) catastrophe bond issuance has successfully been doubled in size thanks to strong demand from investors and will now provide the residual market property insurer $400 million of reinsurance protection.
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The Texas Windstorm Insurance Association (TWIA) has lifted its target for the recently launched Alamo Re II Pte. Ltd. (Series 2020-1) catastrophe bond issuance, with as much as $400 million of reinsurance capacity from the capital markets now on the cards.
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The Texas Windstorm Insurance Association’s (TWIA) new catastrophe bond is the latest issuance to have shifted domicile to Singapore, with the special purpose reinsurance vehicle used for the transaction being named Alamo Re II Pte. Ltd.
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