Alamo Re Ltd. Series 2014-1

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TWIA’s Alamo Re 2014 cat bond upgraded after variable reset

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.As Artemis wrote here in April, TWIA wanted to adjust the 2014-1 read the full article →

TWIA to lower Alamo Re 2014 cat bond attachment probability at reset

The Texas Windstorm Insurance Association (TWIA) is set to lower the attachment probability of its $400m Alamo Re Ltd. (Series 2014-1) catastrophe bond at the annual reset, in order to slot the cover it provides between the two tranches of its new Alamo Re Ltd. (Series 2015-1) offering.At the upcoming read the full article →

2015 Alamo cat bond still on agenda for TWIA’s reinsurance renewal

The Actuarial and Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has just completed its latest meeting, at which the committee resolved to pursue a 2015 reinsurance renewal that can include a new Alamo Re catastrophe bond.TWIA is the insurer of last resort for Gulf Coast property owners in read the full article →

TWIA begins reinsurance renewal planning, may contain cat bonds

The Texas Windstorm Insurance Association (TWIA), the insurer of last resort for Gulf Coast property owners in the state, has begun planning for its 2015 reinsurance renewal, which could include another Alamo Re catastrophe bond.TWIA effectively sponsored its first catastrophe bond in June 2014, with the issue of the $400m read the full article →

TWIA gets the best from cat bond market with Alamo Re

The Texas Windstorm Insurance Association (TWIA) got the best out of the ILS market with its first catastrophe bond transaction, Alamo Re Ltd. (Series 2014-1), allowing it to diversify its reinsurance while benefiting from capital market features.Insurance-linked securities investors showed strong support to TWIA as it tapped the capital market read the full article →

TWIA appreciates diversification offered by Alamo Re catastrophe bond

The Texas Windstorm Insurance Association (TWIA) appreciates the diversification that its recently completed first catastrophe bond transaction, Alamo Re Ltd. (Series 2014-1), provides to its risk transfer program.The Texas windstorm insurer of last resort had been looking at the catastrophe bond market for at least three years, considering its inclusion read the full article →

TWIA’s $400m Alamo Re cat bond prices at low-end of reduced range

The Texas Windstorm Insurance Association’s (TWIA) first catastrophe bond, the $400m Texas named storm Alamo Re Ltd. (Series 2014-1) cat bond, has priced at the lowest end of the reduced and narrowed coupon guidance.TWIA will be delighted with the success of its first venture into the catastrophe bond market. After read the full article →

TWIA set to hit $400m target with Alamo Re cat bond as it upsizes

The Texas Windstorm Insurance Association's (TWIA) first catastrophe bond, Alamo Re Ltd. (Series 2014-1), looks set to hit its $400m target as the deal upsizes, while at the same time the pricing guidance has been lowered Artemis understands.TWIA launched its first catastrophe bond deal at the start of June, after read the full article →

TWIA’s Alamo Re cat bond exposed to a repeat of Texas hurricane Ike

The first catastrophe bond to be sponsored by the Texas Windstorm Insurance Association (TWIA), Alamo Re Ltd. (Series 2014-1), would be exposed to a Texas hurricane as severe as 2008's hurricane Ike according to new information on the deal.2008's hurricane Ike was the most powerful Texas hurricane in recent memory, read the full article →

Alamo Re Ltd., TWIA’s first catastrophe bond, launches

The awaited first catastrophe bond transaction to be issued on behalf of the Texas Windstorm Insurance Association (TWIA) has now come to market, Artemis understands, in the form of the $300m Texas named storm cat bond Alamo Re Ltd. (Series 2014-1).TWIA's first catastrophe bond has been expected as the association read the full article →