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TWIA opts for Aon for catastrophe modeling services

The Texas Windstorm Insurance Association (TWIA) is now set to finally appoint insurance and reinsurance broker Aon to provide catastrophe risk modeling services, after the company was recommended by its Actuarial & Underwriting Committee after a second round of RFP's. TWIA had issued a request for proposals (RFP) for catastrophe modeling read the full article →

Gallagher Re to win TWIA reinsurance broking account

Gallagher Re looks set to win a major new reinsurance broking client thanks to its acquisition of Willis Re, as the Texas Windstorm Insurance Association (TWIA’s) Actuarial & Underwriting Committee continues to make the recommendation for a change. As we explained just over one month ago, TWIA's Committee had voted to read the full article →

TWIA committee votes to change reinsurance broker to Willis Re

The Texas Windstorm Insurance Association (TWIA's) Actuarial & Underwriting Committee met yesterday to review proposals for reinsurance broking services and has voted to recommend the TWIA Board approve a change to Willis Re, which also has ramifications for the issuance of its catastrophe bonds. Guy Carpenter has been the reinsurance broker read the full article →

TWIA’s 2021 reinsurance tower is 57% multi-year catastrophe bonds

The Texas Windstorm Insurance Association (TWIA) has further demonstrated its commitment to the catastrophe bond market at its 2021 reinsurance renewal, with multi-year coverage from the capital markets now making up 57% of its $1.93 billion program tower. As we've been reporting over recent weeks, TWIA successfully doubled in size its read the full article →

TWIA to double Alamo Re 2021 cat bond to $500m

The Texas Windstorm Insurance Association (TWIA) is now expected to double in size its new Alamo Re Ltd. (Series 2021-1) catastrophe bond transaction, which will now more than replace a soon to mature $400 million cat bond from 2018. As we were first to report this week, TWIA's staff said at read the full article →

TWIA won’t seek extra $1bn reinsurance in 2021, but cat bond may upsize

The Texas Windstorm Insurance Association (TWIA) remains focused on securing the planned just over $1.9 billion of reinsurance protection at its renewal this year, as its Board has turned down the option of adding an extra nearly $1 billion of protection. But the mix of traditional reinsurance and catastrophe bonds across read the full article →

TWIA returns for $250m+ Alamo Re cat bond renewal for 2021

The Texas Windstorm Insurance Association (TWIA) has returned to the catastrophe bond market with a $250 million or larger Alamo Re Ltd. (Series 2021-1) transaction, which will go at least some of the way to renewing a soon to mature $400 million cat bond from 2018. For 2021, the Texas Windstorm read the full article →

Pricing to define size of TWIA’s Alamo Re II 2020 cat bond: CFO

The Texas Windstorm Insurance Association's (TWIA) mid-year 2020 reinsurance and catastrophe bond renewal looks set to depend on pricing this year, as the insurer is aware of challenges faced in both marketplaces and will look to maximise on coverage at the best possible and most efficient pricing as it builds read the full article →

TWIA targeting $200m Alamo Re II cat bond issuance for 2020

The Texas Windstorm Insurance Association (TWIA) is likely to target $200 million or perhaps greater of protection from an Alamo Re II Ltd. catastrophe bond issuance for 2020, as the capital markets look set to continue playing an important role in its reinsurance program. As we explained back in February, TWIA read the full article →

TWIA’s reinsurance & cat bond target raised to $2.1bn for 2020

The Texas Windstorm Insurance Association (TWIA) has raised its target for reinsurance and catastrophe bond coverage for this year to $2.1 billion, while at the same time the expectations for average rate-on-line have fallen slightly since December. Back in December 2019, TWIA's Board was working off a budgeted assumption that it read the full article →