Assurant cuts cat limit back

Assurant scaled back both its limit purchased and retention as
it restructured its core US property catastrophe reinsurance
programme at the recent 1 July renewal.The US insurer cut the retention on its US cat cover by almost
20 percent from $155mn to $125mn as it cited reduced lender-placed
insurance exposure.The reduction followed a similar lowering of its
retention last year from $205mn to $155mn, which Assurant
attributed to lower lender-placed insurance exposure and the sale
of American Rel