Texas Windstorm Insurance Association

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).

The Texas Windstorm Insurance Association (TWIA) is targeting $400m of fully-collateralized reinsurance protection on an annual aggregate basis from its first catastrophe bond, as part of a $1.35 billion layer of its reinsurance program.

The Board of Directors of the Texas Windstorm Insurance Association’s (TWIA) has approved the associations plan to issue its first catastrophe bond in 2014 at a meeting held today. This is the furthest TWIA has ever got down the path to sponsoring a cat bond.

Texas Windstorm Insurance Association’s (TWIA) plan to pursue its first catastrophe bond issuance in 2014, which we covered here yesterday, has been approved by the Actuarial & Underwriting Committee and a proposal will be sent to the TWIA board.

For the third year running, the Texas Windstorm Insurance Association (TWIA) is actively considering whether a catastrophe bond should make up part of the windstorm insurer of last resorts reinsurance and risk transfer arrangements for 2014.

Yesterday we wrote about the launch of a new private catastrophe bond issuance platform by global independent insurance manager Kane and the issuance of the first series of private cat bond notes on it. The first series of just over $9.5m of notes feature underlying risk ceded from the Texas Windstorm Insurance Association (TWIA).

The Texas Windstorm Insurance Association (TWIA) has once again been considering the use of catastrophe bonds as part of its reinsurance and risk transfer arrangements in 2013. TWIA is an insurer of last resort which provides windstorm and hail insurance to Texas Gulf Coast property owners who might otherwise be left uninsured. It’s not the first […]

The Texas House of Representatives has established a joint committee who are to be tasked with looking at alternative ways to provide property insurance to Texans living in coastal regions. Currently that protection is provided by the Texas Windstorm Insurance Association (TWIA) who recently looked into issuing catastrophe bonds but then decided against that route […]

The Texas Windstorm Insurance Association (TWIA), the property insurer of last resort for Texas Gulf Coast property owners exposed to windstorms and hail, has today been holding its latest quarterly board of directors meeting. We wrote back in November here that the TWIA actuarial committee had recommended that an item be placed on the agenda […]

The Texas Windstorm Insurance Association (TWIA), the insurer of last resort who provide windstorm and hail insurance to Texas Gulf Coast property owners who might otherwise be left uninsured, is the latest semi-governmental insurer to look seriously at the catastrophe bond market as a way to complement their reinsurance and risk transfer program. A meeting […]