Bluebonnet Re Ltd

At a meeting held in Galveston today, the Texas Windstorm Insurance Association (TWIA) Board agreed to only pursue purchase of the statutory minimum amount of reinsurance and catastrophe bonds needed to hit the 1-in-50 year funding level in 2026, opting not to buy any additional risk transfer to cover higher return period events.

Reinsurance and catastrophe bond market participants may not see a typical large protection buy from the Texas Windstorm Insurance Association (TWIA) in 2026, as the latest exposure data from the suggests it may only need just over $355 million of new risk transfer this year, with cat bonds set to provide the rest of its […]

At a meeting of the Texas Windstorm Insurance Association (TWIA) Board today, the recently proposed new weighting methodology for a blending of catastrophe risk models to derive the 1-in-50 year PML was approved.

The Texas Windstorm Insurance Association (TWIA) has made some progress in determining how much in reinsurance and catastrophe bonds it will buy in 2026, as its Actuarial & Underwriting Committee met yesterday in a lengthy meeting to select a weighting methodology for a blending of risk models to derive the 1-in-50 year PML.

The Texas Windstorm Insurance Association (TWIA) is now projecting that the amount of reinsurance and catastrophe bonds it may require for the 2026 wind season could be roughly 46% lower than this year’s program, with $2.3 billion of limit the current forecast.

At a Board meeting of the Texas Windstorm Insurance Association (TWIA) yesterday, members discussed the evolution of the property insurer of last resort’s funding under new state legislation, concluding that it may result in TWIA opting to reset and perhaps even redeem early some of its catastrophe bonds.

The first catastrophe bond for the Texas FAIR Plan Association (TFPA) has now been finalised to provide the targeted $200 million of multi-peril reinsurance protection, while the notes from this Bluebonnet Re Ltd. (Series 2025-2) issuance have been priced at the upper-end of guidance, Artemis has learned.

The Texas Windstorm Insurance Association (TWIA), the residual market property insurer for the State of Texas, has increased the size of its new Bluebonnet Re Ltd. (Series 2025-1) catastrophe bond issuance for a second time, with now $550 million of reinsurance expected to be secured, Artemis can report.

At a Board meeting of the Texas Windstorm Insurance Association (TWIA) today, attendees heard that the catastrophe bond and reinsurance placement for 2025 is “looking good” while also noting that the projected rate-on-line (RoL) for the placement looks to be lower than the prior year, as the market has softened somewhat.

The first catastrophe bond for the Texas FAIR Plan Association (TFPA) has seen its price guidance moved to the upper-end of the initial range, while the target remains to secure $200 million of multi-peril reinsurance from the capital markets through this Bluebonnet Re Ltd. (Series 2025-2) issuance.