Your search for “alamo re”

The Texas Windstorm Insurance Association (TWIA) has successfully secured its planned $2.1 billion reinsurance and catastrophe bond program for the 2019 hurricane season, saying it is pleased with the placement as both reinsurance and new Alamo Re cat bonds were well-received.

The Texas Windstorm Insurance Association (TWIA) will aim to secure at least $2.1 billion of protection from the global reinsurance and insurance-linked securities (ILS) market for the 2019 hurricane season, taking its total claims-paying capacity to at least $4.2 billion.

German reinsurance giant Hannover Re said today that the approximately $1.5 billion of catastrophe bonds it has facilitated the issuance of for its clients help to deliver low-risk and attractive margins, while attracting new clients and maintaining existing relationships.

Reinsurance giant Hannover Re continues to take advantage of the expanding insurance-linked securities (ILS) sector, and sees further opportunities in a marketplace that is “here to stay,” according to Henning Ludolphs, Managing Director of Retrocessions & Capital Markets at Hannover Re.

The Texas Windstorm Insurance Association (TWIA), the residual market property insurer for the Texas coast, completed a successful 2018 reinsurance placement recently with the combined coverage of catastrophe bonds and traditional coverage helping to ensure it is there to support its policyholders when disasters strike.

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 by increasing hurricane Harvey losses.

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 by hurricane Harvey.

German reinsurance firm Hannover Re continued to grow its use of the capital markets as retrocessionaire and also source of fee income, by expanding its insurance-linked securities (ILS) activities during 2017, an area of the business it sees as growing while meeting cost-of-capital.

Hurricane Harvey is expected to result in “extremely complex loss circumstances” making predicting the eventual toll that will be paid by reinsurance capital providers, both traditional and alternative, extremely difficult, according to A.M. Best.

Here’s a quick look at just how much of the near $30 billion of outstanding catastrophe bonds could be exposed to a major Texas hurricane, be that hurricane Harvey that is rapidly approaching Category 3 on approach to the state, or any other major storm.