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TWIA’s new Alamo Re 2018 cat bond could upsize to $400m

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. It's TWIA's read the full article →

TWIA’s reinsurance to grow 24% to $2.6bn, as Harvey loss rises

The Texas Windstorm Insurance Association (TWIA) is set to procure a new $1.4 billion layer of reinsurance and catastrophe bonds in 2018, taking its overall private market program to $2.6 billion, a 24% increase from the size of its program a year ago, helping to cover a funding gap created read the full article →

TWIA returns for $300m+ Alamo Re 2018 multi-peril cat bond

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. This fourth cat bond from TWIA read the full article →

TWIA to put cat bonds & reinsurance at heart of 2018/19 funding

The Texas Windstorm Insurance Association (TWIA), the largely coastal residual market property insurer in the state, is to return to the catastrophe bond and reinsurance market to secure a new program for 2018, which could result in more capacity being purchased after some of its financial protection has been eroded read the full article →

TWIA’s Alamo Re cat bond hits $400m, with pricing below guidance

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. Hitting the read the full article →

Target for TWIA’s Alamo Re 2017-1 cat bond lifted to $400m

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 read the full article →

TWIA seeks $250m of protection from new Alamo Re 2017-1 cat bond

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 read the full article →

TWIA might save using more cat bonds, may sponsor again in 2017

The Texas Windstorm Insurance Association (TWIA) could potentially save as much as $28 million by shifting its traditional reinsurance cover to the capital markets, although there is yet to be any formal analysis as to the impact of such a transition. During a recent TWIA Board of Directors meeting, held Tuesday read the full article →

TWIA to top up with $1.1bn traditional & collateralized reinsurance

The Texas Windstorm Insurance Association (TWIA) is set to purchase an additional $1.1 billion of reinsurance coverage for the 2016 hurricane year, from both traditional and fully-collateralized sources, taking its total reinsurance coverage for the year to $2.2 billion. TWIA’s Board of Directors has unanimously approved the recommendations of its Actuarial read the full article →

TWIA to tweak reinsurance for 2016, may add second-event protection

The Actuarial Committee of the Texas Windstorm Insurance Association (TWIA), the residual market or last-resort property insurer for Texas, is set to seek approval to purchase slightly less first-event reinsurance protection in 2016, but may add a second-event cover. When we say slightly less reinsurance, it is only $100m of limit read the full article →