Citizens to target up to $1.3bn reinsurance for 2017

Florida Citizens Property Insurance is planning to spend under
$100mn to buy just $1.1bn to $1.3bn of total reinsurance limit in
the mid-year renewals.
CEO Barry Gilway outlined the targets - which were in line with
previous budget estimates released by the company - when speaking
at the Florida Chamber of Commerce insurance summit this month.
The $1.3bn total reinsurance would include any cat bond cover,
as the organisation evaluates whether to make an early redemption
of its $300mn Everglades.